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State Library 



OF 



MASSACHUSETTS. 

A. 



Return as Soon as Used. 



I pi 









Public Document 



No. 9 



FIFTY-EIGHTH ANNUAL KEPOKT 



OF THE 



Insurance Commissioner 



OF 



<&\)t ^omntontoealtl) of Massachusetts. 



January 1 , 1913. 



PART I. 

FIRE AND MARINE INSURANCE. 







BOSTON: 

WRIGHT & POTTER PRINTING CO., STATE PRINTERS, 

18 Post Office Square. 

1913. 



<*\ 



* 



STA; ARY 



^ 



AUG 6 1913 

STATE HOUSE, BOSTON. 



Approved by 
The State Boaed of Publication. 



...... •**•*• 

.. . , 

.• 

► * ••» « .. 



,\ •*■••• .\ 



• 






'3fcrV\a 

A 



TABLE OF CONTENTS 



[For Index to Companies, see end of volume.] 



COMMISSIONER'S REPORT 
Introductory, ........ 

Companies admitted, ....... 

Companies ceasing to transact Business, . 
Department Examinations, .. 

An Explanation concerning the Ohio Deposit, . 
What Discretion should be given the Commissioner in admitting Insurance 
Companies, ...... 

Mutuality in a Fire Insurance Company, . 
The Fire Insurance Situation, . 
Department Finances, .... 

Reports of Receivers of Insurance Companies, 

Table 1. — Income, disbursements, premiums, losses, assets, liabilities and sur 

plus to policy holders, Dec. 31, 1912, 
Table 2. — Income during 1912, 
Table 3. — Disbursements during 1912, . 
Table 4. — Assets, Dec. 31, 1912, . 
Table 5. — Liabilities, Dec. 31, 1912, 
Table 6. — Massachusetts business during 1912, 
Table 7. — Showing sources of gain or loss in surplus during 1912, 
Table 8. — Receipts and expenditures of the insurance department, 

4 

DETAILED STATEMENTS. 
Massachusetts mutual fire companies, ..... 
Massachusetts joint-stock fire and fire-marine companies, . 
Fire, marine and fire-marine insurance companies of other States, 
United States branches of foreign companies, .... 



Appendix, 



page 
v 
v 
vi 
vi 
viii 

ix 
xi 

xvi 
xxi 

xxii 

xxiv 

xxxiii 

xlii 

1 

lx 

lxx 

lxxix 

ex 



2 

95 

108 

515 

656 



Statutes enacted in 1913, . 

Report of Massachusetts District Police, fire inspection department, 



659 
667 



©he Commontoealth of itta00acl)usette. 



Insurance Department, Boston, May 6, 1913. 
To the General Court of Massachusetts. 

Herewith is respectfully submitted Part I. of the fifty-eighth 
annual report of the Insurance Commissioner, as required by section 
17, chapter 576, Acts of 1907. As in previous years, this volume 
relates to fire and marine insurance companies, and covers certain 
records concerning fire insurance companies, comments by the com- 
missioner, reports of receivers, new fire insurance legislation, various 
comparative tables, including a gain and loss exhibit for each com- 
pany, abstracts of the annual reports of the companies, and the report 
of the bureau which investigates the causes of fires and reports 
thereon. 

The following companies of the classes covered by this volume 
were admitted to transact business in this Commonwealth subsequent 
to the date of the last report or in 1913 prior to the date of this 
report : — 



Corporate Name. 


Location. 


Date of 
Author- 
ity. 


Capital. 


Pittsburgh Fire Insurance Company, 
German Fire Insurance Company, 
Maryland Motor Car Insurance Company, 
The Century Insurance Company, Limited, 
United States Fire Insurance Company, . 
Union Assurance Society, Limited, . 
Standard Marine Insurance Company, Limited, 

The Nassau and Dutchess Fire Insurance Company 
Maryland Motor Car Insurance Company, 
The Netherlands Fire and Life Insurance Company, 
Standard Fire Insurance Company of New Jersey, 
The Imperial Fire Insurance Company, 






Pittsburgh, Pa., 

Pittsburgh, Pa., 

Baltimore, Md., 

Edinburgh, 

New York, N. Y., 

London, 

Liverpool, . 

New York, N. Y., . 
Wilmington, Del., 
The Hague, 
Trenton, N. J., . 
Denver, Col., 


1912. 
May 31 

June 19 

July 1 

July 5 

July 25 

Sept. 5 

Sept. 25 

1913. 

Jan. 2 

Feb. 18 
Mar. 17 
Mar. 22 

Apr. 15 


S200.000 
300,000 
300,000 
200,000 « 
400,000 
200,000 • 
300,000i 

400,000 

300,000 

200,000' 

200,000 

250,000 



1 Deposit capital. 



VI 



REPORT OF THE 



The following companies of the classes included in this volume 
ceased to transact business in this Commonwealth subsequent to May 
20, 1912, and in 1913 prior to date of this report: — 



Name of Company. 


Location. 


Date. 


Capital. 


Remarks. 






1912. 






Sun Insurance Company, 


New Orleans, La., . 


May 22 


$500,000 


Reinsured entire liability in 

Royal. 
Withdrew. 


California Insurance Com- 


San Francisco, Cal., 


June 30 


400,000 


pany. 










Delaware Insurance Com- 


Philadelphia, Pa., . 


July 19 


400,000 


Reinsured in Westchester and 


pany. 








ceased business. 


Insurance Company, State 


Rockford, 111., . 


Nov. 7 


400,000 


Reinsured in Hanover and 


of Illinois. 








ceased business. 


Jefferson Fire, . 


Philadelphia, Pa., . 


Nov. 30 


250.0D0 


Reinsured in Fireman's Fund 
and ceased busin. 


India Mutual, . 


Boston, Mass., . 


Dec. 23 


- 


Reinsured in New Jersey Fire. 


Nassau Fire, 


Brooklyn, N. Y., . 


Dec. 16 


200,000 


Merged under name of The 
Nassau and Dutchess. 


Dutchess, .... 


Poughkeepsie, N. Y., 


Dec. 16 


200,000 


- 


Maryland Motor Car Com- 


Baltimore, Md., 


Dec. 19 


300,000 


Ceased business. Purchased 


pany. 








by Maryland Motor Car 
Company of Wilmingtoo, 
Del. 


Franklin, .... 


Washington, D. C, . 


Dec. 31 


250,000 


Withdrew. 


Empire City, . 


New York, N. Y., . 


Dec. 31 
1913. 


400,000 


Merged with Williamsburg 
City Dec. 26, 1912. 


Sovereign, 


Toronto, Can., 


Jan. 23 


200,000' 


Reinsured such risks as ex- 
pired prior to Dec. 31, 1912, 
in Globe and Rutgers, and 
ceased business. 


Imperial Fire, . 


Denver, Colo., . 


May 5 


250,000 


Reinsured in German Ameri- 
can of New York. 



Deposit capital. 



Department Examination-. 

The following fire companies were examined by this department 
during the year 1912 : — 



Name of Company. 



Location. 



Date of 
Previous Ex- 
amination. 



Annisquam Mutual, 

Arkwright Mutual, 

Attleborough Mutual, .... 

Berkshire Mutual, 

Boston Manufacturers' Mutual, 

Cotton and Woolen Manufacturers' Mutual, 

Industrial Mutual, 

Merrimack Mutual 



Gloucester, 

Boston, 

Attleborough, 

Pittsfield, 

Boston, 

Boston, 

Boston, 

Andover, 



1909 
1909 
1910 
1910 
1909 
1909 
1909 
1909 



INSURANCE COMMISSIONER. 



Vll 



Name of Company. 


Location. 


Date of 
Previous Ex- 
amination. 


Mutual Protection, 

Peoples National, 1 

Rubber Manufacturers', 

South Danvers Mutual, 

West Newbury Mutual, 


Charlestown, .... 
Delaware, ..... 

Boston, 

Peabody, 

West Newbury, 


1909 

1909 
1909 
1909 



1 Jointly with New York, North Carolina and Pennsylvania insurance departments. 

Besides the above, the following companies of other classes were 
examined during the year : — 



Name of Company. 



Location. 



Date of 
Previous Ex- 
amination. 



American Fidelity Company, ' ... 

American Mutual Liability, .... 

Degree of Honor, A. O. U. W. of Massachusetts, 

Berkshire County Savings Bank, Insurance Depart 

ment. 
Brotherhood Accident, .... 

City Savings Bank, Insurance Department, 

Columbian National Life, . 

Conveyancers Title, .... 

Ancient Order of United Workmen, 

Equitable Accident Company, . 

Fraternal Accident Association, 

Fraternal Protective Association, 

General Insurance Guaranty Fund, . 

Loyal Protective, .... 

Masonic Protective Association, 

Massachusetts Bonding and Insurance Company, 

New England Casualty, . .' . 

Peoples Savings Bank (Insurance Department), 

Portuguese Fraternity of the United States of 

America. 
State Mutual Life, 

Whitman Savings Bank (Insurance Department), 

United Order Golden Star, .... 

Massachusetts Catholic Order Foresters, . 

Massachusetts Title, 



Vermont, 

Boston, 

Boston, 

Pittsfield, 

Boston, 

Pittsfield, 

Boston, 

Boston, 

Boston, 

Boston, 

Westfield , 

Boston, 

Boston, 

Boston, 

Worcester, 

Boston, 

Boston, 

Brockton, 

Somerville, 

Worcester, 

Whitman, 

Boston, 

Boston, 

Boston, 



1909 

1911 
1911 

1909 
1909 

1909 



1911 
1910 
1910 
1911 
1909 
1911 

1909 
1911 



1909 



1 Jointly with New York and Vermont insurance departments. 



Vlll REPORT OF THE 

An examination pertaining to its reincorporation from an a 
ment company to a company with a capital stock of $100,000 was 
made of the Boston Casualty Company of Boston. 

In June, 1912, the ~New England Casualty Company increac 
its capital from $600,000 to $1,000,000, and an examination was 
made of the records and transactions pertaining to such increase in 
addition to the examination recorded above. 

An investigation was made during the year into the plans for 
development and organization of the New World Life Insurance 
Company of Spokane in respect to the offer of its capital stock as 
an investment for residents of this Commonwealth. 

The law providing for the establishment of retirement associations 
for employees of the Commonwealth and of counties imposed upon 
the commissioner the duty of examining annually the affairs of these 
organizations. 



An Explanation concerning the Ohio Deposit. 

Many of the companies of other countries authorized here have 
made deposits with the State of Ohio, as required by its laws, to 
qualify them to transact business therein. These deposits were made 
for the protection of all the policy holders in the United States, that 
is, were made as general deposits, and not as special for the protec- 
tion of Ohio policy holders in preference to those of other States. 
It appearing, however, that the Ohio Legislature in 1910 enacted 
a law to the effect that the custodian of such deposits may surrender 
them when he becomes satisfied that the obligations to Ohio policy 
holders have been satisfied, it appealed to the Insurance Commis- 
sioner of this Commonwealth that any deposit made in that State 
subsequent to the act of 1910 was impressed with a doubt at least 
whether it was a deposit such as was proper to allow as an asset for 
companies of other countries for the protection of policy holders 
here. For that reason the Ohio deposit has been disallowed in the 
December 31 statements of such companies, abstracts of which state- 
ments are contained in this volume. It is fair to state, however, 
that doubt as to the protection afforded by such deposits has now 
been removed bv a new Ohio statute, in effect March 21. 1913, bv 
virtue of which such deposits in that State would now be recognized 
as good assets for the protection of Massachusetts policy holders 



INSURANCE COMMISSIONER. IX 

as well as all others in the United States. The foreign companies 
having such deposits may readily be determined by reference to the 
abstracts herein which show their standing. A statement for such 
companies made up to-day would include the Ohio deposit as an 

asset. 

The evidence is clear that the intention in Ohio was not to require 
companies to make special deposits in that State, that is, deposits 
which are for the protection of policy holders in that State in prefer- 
ence to those of other States, thus making them to that extent pre- 
ferred creditors in case of the insolvency of the company making 
the deposit. But this cannot be said about the deposits required 
by some of the States. They are definitely and clearly for the pro- 
tection of the policy holders in those States in preference to the 
policy holders of any other State. In other words, such deposits 
are set apart for a special purpose, and do not afford protection to 
the general public until the claims of a special class are satisfied. 
The inclusion of such deposits in the assets of a company manifestly 
misleads the inquirer as to the protection afforded by the company. 
The proper treatment of such deposits would seem to be to disallow 
them as assets, but allow in offset such liabilities as have accrued 
against them. 



What Discretion should be given the Commissioner in admit- 
ting Insurance Companies. 

One of the bad failures in the fire insurance line during the past 
year was that of the American Union Fire Insurance Company of 
Pennsylvania. It was incorporated on May 5, 1910, with an au- 
thorized capital of $500,000. Twenty per cent, of this amount, or 
$100,000, was used for promotion expenses. Before the capital was 
all paid in it applied for admission to many of the States, among 
which was Massachusetts, and while its earmarks showed that it 
lacked the promise of permanency, still the Insurance Commissioner 
would have been justified, looking only at the terms of the law, in 
admitting it to transact business in Massachusetts, as it had a paid-up 
capital of not less than $200,000, which is all the statute requires, 
and, moreover, had a comfortable working surplus. Indeed, possibly 
it might in strictness be held that the Insurance Commissioner, under 
the statute, was expected to admit the company on the showing made 



X REPORT OF THE 

in its behalf in respect to the standards supplied by the statute, for 
those standards appeared to have been reasonably well met. But 

ry insurance department knows that while the lav 
are necessary they are not all that is essential in determining whether 
an insurance company is worthy of admission to transact biwi 
— in other words, can afford the protection for which the public 
pays. It is necessary, also, to know the facts with reference to the 
creation of a company, — whether or not it was the offspring of a 
promoter's brain, conceived for the promotion profit; th« - re- 

lating to its past management, — whether it has made or lost d 
the facts with reference to its present management, — whether it 
is run for the benefit of the officers or a part of them, as might be 
shown by the presence of a contract that gives to an officer sole au- 
thority upon a percentage basis of compensation to do all of the 
underwriting of the company, with no one to question the advisability 
of taking any particular risk save only the person whose pocket will 
be advantaged by taking it ; the prospects with reference to the 
future as judged from the past, from present appearances and ar- 
rangements for the future. Moreover, there are certain other telltale 
marks, not so easy to describe, by which one with experience learns 
to judge of the quality of a fire insurance company, and of the de- 
sirability of giving it a chance to get hold of the money of the in- 
suring public. 

In the case of the company in question it appeared to be one of 
those instances where the more obscure signals pointed to danger, 
although the commonly observed ones, which are erected by statute, 
were set for safety. The department, acting on it- judgment 

in respect to the application of the company, adopted a waiting atti- 
tude. Its course was pronounced by interested parties " arbitrary,'' 
u unreasonable " and a " usurpation of authority," and pressure was 
brought to bear by those who hoped to become the company's repre- 
sentatives to have it at once admitted. The commissioner expected to 
see his adverse decision justified by developments, but did not look 
for the disastrous failure of the company within so brief a period. 
The company proved to be weak in administrative and underwriting 
wisdom, and a loss will have to be met by the policy holders or 
agents of those States which opened their doors for its admission. 

This particular incident is introduced in this report for the pur- 
pose of pointing out that this policy of non-action was not adopted by 



INSURANCE COMMISSIONER. XI 

direct authority of the statute, and consequently afforded some 
excuse for the partisans of the company to claim that it was a virtual 
usurpation of power. In view of this, the Insurance Commissioner 
raises the question whether he should not be given the same authority 
by statute with reference to the admission of insurance companies 
as is given the corresponding official in many other States, among 
which are Xew York and Connecticut, the two States having the 
largest insurance interests. That authority invests the Insurance 
Commissioner with the right to refuse admission to a company if 
in his judgment it seems wise to do so for the protection of the public. 



Mutuality in a Fire Insurance Company. 

There are several types of so-called mutual fire insurance com- 
panies, but our law recognizes two only. In one, each member gives 
a note for the premium, which note is assessable in case of loss for 
its proportion of the loss. In the other, each member pays a cash 
premium, and is liable for a further amount as set forth in the by- 
laws of the company, not, however, to be less than the cash premium, 
and is entitled to a return of the unused part of his cash premium. 
Mutual insurance conducted in either of these forms mav be true 
mutual insurance. Each insured person bears his share of losses. 
Each may have a voice in the management of the company. Each 
is entitled to a rate proportionate to his hazard. 

Another type, not known to our law, but called mutual, while 
lacking one of the essential elements of mutuality, has been nurtured 
in some sections of the country. It is true that in such a mutual 
company all of the members may have a voice in its management, 
but some pay a definite sum for their protection and are not subject 
to assessments or entitled to dividends, while others pay in notes 
subject to assessment ; or, if it be the type of company where a cash 
premium is required in advance, pay such cash premium, and for 
the right to receive back the profits submit to the liability of assess- 
ment. In one such company the rate is $12 per $1,000 for a cer- 
tain kind of risk for each class of policy holders. ' The company has 
been returning to the participating class a dividend of 25 per cent, 
for several years, and has not made an assessment. This class, there- 
fore, has obtained its insurance for three-fourths what it has cost 



Xll REPORT OF THE 

the other class, but the class paying the smaller sum has been liable 
for an assessment in case the losses of the company could not be paid 
without it. About $350,000 of surplus has stood in the way of such 
assessment. All members have been entitled to vote. In this Com- 
monwealth the policy holders in that company have not had their 
choice of classes. All are in the participating class. It might hap- 
pen that policy holders here would be the only ones assessable, and 
that they would have to stand a heavy burden in case of a big dis- 
aster involving the company. They receive dividends when profits 
are made in offset to that liability to assessment. 

7s such a Company a Mutual Compan 

The courts in absence of a statute on that subject have answered 
in the affirmative, on the supposition that the premiums for the two 
classes are, when the circumstances are taken into consideration, 
equivalent. But such a company is not a mutual company under 
Massachusetts laws applicable to domestic companies. May such a 
compam-, when called mutual under the laws of its home State and 
allowed to operate there, be admitted to operate in this Common- 
wealth? That question was asked of the Attorney-General by this 
department, and the following was the opinion received : — 

The Commonwealth of Massachusetts, 
Department of the Attorney General, Boston, March 24, 1913. 

Hon. Frank H. Hardisox, Insurance Commissioner. 

Dear Sir : — I transmit herewith my opinion upon the question raised by 
the Central Manufacturers' Mutual Insurance Company of Van Wert, 0., 
and argaied by counsel before me on March 13 last. 

The Central Manufacturers' Mutual Insurance Company of Tan Wert, O., 
was admitted to this Commonwealth to transact " any class of insurance 
authorized by the laws of this Commonwealth, subject to all general laws 
now or hereafter in force relative to insurance companies, and subject to all 
laws applicable to the transaction of such business by foreign insurance com- 
panies and their agents." (St. 1907, c. 576, § S3.) By section 7 of the same 
chapter it is provided that — 

If the commissioner is of opinion upon examination or other evidence that a 
foreign insurance company is in an unsound condition, that it has failed to comply 
with the law or with the provisions of its charter, or that its condition is such 
as to render its proceedings hazardous to the public or to its policy holders, . . . 
he shall revoke or suspend all certificates of authority granted to said foreign 
insurance company, its officers or agents, and shall cause notices thereof to be 



INSURANCE COMMISSIONER. Xlll 

published in the newspaper in which the general laws are published, and no new 
business shall thereafter be done by it or its agents in this commonwealth while 
such default or disability continues, nor until its authority to do business is re- 
stored by the commissioner. 

It is further provided in R. L., c. 126, § 2, that — 

A foreign corporation, except life insurance companies as provided in chapter 
one hundred and eighteen, shall not engage or continue in any kind of business 
in this commonwealth the transaction of which by domestic corporations is not 
permitted by the laws of this commonwealth. 

The Central Manufacturers' Mutual Insurance Company was incorporated 
under the general laws of Ohio in force in 1876 as a mutual fire insurance 
company. Under section 9538 of the General Code of Ohio every person 
who effects insurance in a mutual company becomes a member of the com- 
pany, and is bound to pay losses in proportion to his deposit note or con- 
tingent liability. This company, however, having more than $200,000 net 
assets, under section 9574 of the General Code, is authorized to and "does 
issue policies on the so-called stock plan, but no such policies are issued in 
this Commonwealth, and its business here is confined to the issuance of par- 
ticipating policies. 

The precise question now before me ... is whether or not the Central 
Manufacturers' Mutual Insurance Company, which is authorized to issue 
and does issue both participating and non-participating policies, may be ad- 
mitted to the Commonwealth to issue, or being admitted may continue to 
issue therein, its participating policies alone; or, in other words, whether or 
not the business of such company is so affected by the issuance of non- 
participating policies in other States as to cease to be mutual in character. 

The classes of insurance which are authorized by the laws of this Common- 
wealth are denned in St. 1907, c. 576, § 32, as amended by St. 1908, c. 509 
and c. 248, and St. 1910, c. 499. This section provided that — 

Ten or more persons resident of this commonwealth may form an insurance 
company for any one of the following purposes: 

First, To insure upon the stock or mutual plan against loss or damage to 
property and loss of use and occupancy by fire; explosion, fire ensuing; ex- 
plosion, no fire ensuing, except explosion of steam boilers and fly wheels; light- 
ning, or tempest on land; bombardment; a rising of the waters of the ocean or 
its tributaries, or by any two or more of said causes. 

The words " classes of insurance " are of like import to the words " kinds 
of business." See St. 1908, c. 511, § 1, as amended by St. 1911, c. 185. 

A domestic corporation engaged in the business of fire insurance upon the 
mutual plan is prohibited from issuing non-participating policies by the 
provisions of St. 1907, c. 576, § 48, which requires that the contingent mutual 



XIV REPORT OF THE 

liability of a member of such a corporation shall not be less than an amount 
equal to and in addition to the cash premium written in his policy; and of 
section 50, which requires a mutual fire insurance company, if it is not 
possessed of cash funds above its unearned premiums sufficient for the pay- 
ment of incurred losses and expenses, to make an assessment upon i 
bers liable to assessment therefor in proportion to their several liability. 
These provisions, however, are not applicable to the business of a fori 
corporation which is authorized by the laws of the State in which it U 
corporated and is carried on beyond the limits of the Commonwealth. 
Johnson v. Mutual Life Ins. Co. of New York, ISO Mass. 4<»7; Attorney- 
General v. Netherland Fire Ins. Co., 181 Mass. 522. See I Op. Any. Gen. 
181, 339. If, therefore, the business conducted by the Central Manufacturers' 
Mutual Insurance Company within the Commonwealth is the business of 
mutual insurance, it is not material that beyond the limits of the Common- 
wealth it issues a form of policy which may not be issued by a domestic cor- 
poration. 

In the case under consideration the Central Manufacturers' Mutual Insur- 
ance, Company does not do any business upon the stock plan : its policy- 
holders are all members, its losses are paid from a common fund made up 
from premiums paid upon both participating and non-participating policies, 
and it has no stockholders. Under the provisions of the laws of Ohio it is 
a mutual company, and its business is a mutual business which may be car- 
ried on in this Commonwealth, unless the fact that it issues non-participating 
policies is enough to alter its character. 

Apart from the statute, the distinguishing features of insurance upon 
the mutual plan are, first, membership of all policy holders in the company: 
second, payment of premiums which may be either in the form of cash or 
of a premium note, or both, with liability to assessment if necessary; and 
third, the creation of a common fund devoted to the payment of losses. See 
Union Insurance Co. v. Hoge, 21 How. (U. S.) 35; Williams v. Cheney, 
3 Met. 215; Spruance r. Farmers' and Merchants' Ins. Co., 9 Colo. 73. 

The substitution of a fixed cash premium, without contingent liability, for 
a premium note or a cash payment, with the liability to further assessment, 
however, does not necessarily alter the character of the business carried on 
by the company; and the receipt of such a premium, as a payment presently 
made in cash which is equivalent to the deposit of a premium note with lia- 
bility to such assessments as may be required or to a premium payable in 
cash with a further contingent liability, is not destructive of the principle 
of mutuality if the just difference in premium rates between the several 
kinds of payment is fixed and determined. See Shimpf r. Lehigh Valley 
Mutual Ins. Co., 86 Pa. 373; Union Ins. Co. v. Hoge. supra. 

I am advised that the Central Manufacturers' Mutual Insurance Company 
has established a flat premium rate for both participating and non-partici- 
pating policies, and that the difference between the two kinds of payment 
is represented by the dividend which is received by the holder of a partici- 



INSURANCE COMMISSIONER. XV 

paring policy at the end of the year, which is estimated to be about one- 
quarter of the premium originally paid by him. If, in view of the experience 
of companies engaged in the business upon the mutual plan, or upon other 
grounds, you can reasonably conclude that the amount so fixed may fairly be 
held to represent the difference between a fixed cash premium without con- 
tingent liability and a cash payment with contingent liability, I am of opinion 
that the issuance of non-participating policies by the company, under the 
circumstances stated, would not affect the mutual character of its business, 
and that, being admitted to the Commonwealth, it may continue to issue 
therein its participating policies. This question is primarily one of fact for 
your determination. 

Very truly yours, 

James M. Swift, Attorney-General. 

It thus appears that if the premiums paid by the two classes shall 
be judged to be equivalents the company may do a participating 
business in Massachusetts. This is an almost impossible thing to 
determine. It may be argued that as the value of a commodity, or 
a security, or of insurance, is what it will bring in the open market, 
so the equivalency of these two premium rates may be inferred from 
the fact that some people prefer to take one form of contract while 
others take the other, thus showing that there is no such noticeable 
difference as to induce all to favor either, so there is ground for 
saying that the rates are reasonably fair to both classes. 



The Better View from an Insurance Standpoint. 
But this is hardly satisfactory. The public are not well enough 
acquainted with insurance problems to determine with any degree 
of certainty which is the better proposition in the case in question. 
Some would take the participating policy and others the non-partici- 
pating form, although the rates of the former were made $16 per 
$1,000 instead of $12. In other words, they take what is offered. 
There are many more chances that the rates fixed for the two classes 
will not prove to be equivalents than that they will. In fact, whether 
they will or will not is a speculative question, — a gambling chance. 
It is as uncertain as the conflagration hazard. It is like tontine 
policies in life insurance. You win the stakes if you live ; the other 
fellow wins them if you die. So here, you, being a participating 
policy holder, win the stakes if there is no conflagration which wipes 



XVI REPORT OF THE 

out the surplus of the company, but the fellow in the nonrparticipat- 
ing class wins them if such a conflagration occurs. There is nothing 
mutual about this phase of the proposition, although it may have 
that fair title, and in the opinion of the Insurance Commissioner 
there should be a definite statute prohibiting the admission of a fire 
insurance company to do business in this Commonwealth if it is 
anywhere transacting both a participating and a non-participating 
business. 



The Fire Insurance Situation. 
While in other States within the past year there have been wars 
and rumors of wars over the rate question and over the monopoly 
issue born of combinations in making rates, all has been peaceful 
in this Commonwealth along these lines. Xot even has there been 
a call upon the Board of Appeal, established by chapter 493 of the 
Acts of 1911, for it to exercise its authority in the settlement of con- 
flicting views as to rates. The reason that said Board has not been 
called upon to act may be that the passage of that law has had the 
effect of changing somewhat the attitude of the powers which make 
the rates towards those who pay them. A disposition to hear com- 
plainants and to reason with them over disputed questions by those 
who hold the reins of authority often opens the way for a settlement 
by the withdrawal of complaints, while a dictatorial spirit and a face 
of stone kindles the wrath of the opposing party and provokes a 
contest. The knowledge that there is a court of appeal, with power 
to investigate the facts, has no doubt relieved the situation, even 
though unconsciously to the parties concerned, for while there were 
occasional complaints to the Insurance Commissioner as to rates be- 
fore the enactment of the law, and complaints that hearings were 
unsatisfactory when given, there have been since its enactment almost 
no questions raised, and where they have been raised their reference 
to the rating powers has in every instance resulted in amicable ad- 
justments. The opinion of the Insurance Commissioner is, there- 
fore, that the statute providing for a Board of Appeal to hear com- 
plaints in respect to fire insurance rates has had a salutary effect, 
though the Board has had nothing to do and so has cost the Com- 
monwealth nothing to date. 



INSURANCE COMMISSIONER. XV11 

What Other States have learned. 

That statute may also have had some effect over proposals for 
legislation for the purpose of preventing combinations for rating 
purposes, such as we have seen in many other States, which preventive 
legislation has not proved very successful. Three States at least 
during the past few years have conducted long and expensive legis- 
lative investigations to determine, for one thing, whether it is against 
the public interests for fire insurance companies to combine in the 
making of rates. These States are JSTew York, Illinois and Wiscon- 
sin. It is significant that all of these independent investigations 
resulted in the same conclusion, and it would be difficult for any one 
to read the testimony and then the reports which followed, and the 
reasons given by the investigators for their conclusions, without in- 
dorsing the views expressed. The situation was not different in any 
important respect in the three States, although they differed as to 
amount of property to be insured and as to home facilities for in- 
suring it. Nor would any State, as far as this question of combina- 
tion by insurance companies for rate-making purpose is concerned, 
present a situation very different from that in the three States 
mentioned. Hence, conclusions following an investigation of this 
subject in those States would be safe conclusions to be adopted by 
other States, without expensive investigations. 

Now what is the conclusion which has been independently reached 
by the investigating committees of each of these States ? In brief 
it is that it is for the public advantage to have the companies combine 
in the making of rates, but that the rate making, whether done by 
the companies themselves or by independent rate-making bureaus, 
should be under the supervision of the insurance department, and 
be subject to examinations, and the resulting rates subject to review 
and change by the commissioner after investigation, his conclusions 
to be subject to further review by the courts in case of controversy as 
to their reasonableness. 

Conclusions of the Wisconsin Committee as to Competition. 
The Wisconsin investigation, which was a long and exhaustive one, 
was completed only a few months ago. Its legislative committee holds 
that — 



XV111 REPORT OF THE 

Competition does not, as is sometimes argued, make for cheaper fire in- 
surance. On the contrary, competition increases the expense of business, 
and in the long run the insured pays the cost. Fairness in determining the 
rate, and economy and efficiency in its application, require the co-operation 
of all rate-making machinery. 

The report proceeds to enlarge upon the subject as follows : — 

Enforced competition has proved a total failure so far as it affects the 
great mass of the insured. The companies have already gone far towards 
co-operation where permitted by law, and even in violation of uneconomic 
anti-trust and anti-compact laws. It is believed that the objects above can 
be obtained through direct co-operation between companies and agencies in 
effecting the insurance; or through the rates being fixed by some govern- 
mental authority; or through an administration of the fire insurance directly 
by the State. It is not impossible that in the evolution of the business the 
foregoing will be the successive steps through which it will pass. 

The day of unrestricted competition is certainly past. A recognition of 
the benefits of proper co-operation is becoming general. Insurance companies 
will soon and are even now being called upon to demonstrate that they are 
the most efficient agencies for performing the work of collecting the premiums 
and paying the fire losses. In common fairness, as well as in the public in- 
terest, they should be permitted to demonstrate what they can do under the 
fullest freedom to properly co-operate. 

Such recognized co-operation will do away with the hypocrisy of theoretical 
competition under laws which are either rendered ineffective by interpretation 
or secretly violated. A legalized co-operation can be subjected to the fullest 
publicity and to strict regulation in case of abuse. To fear co-operation 
under these conditions is to fear that the State is weaker than the corpora- 
tions which it creates. 

The law should furnish plans and agencies for co-operation between com- 
panies by requiring inspections and rating to be made through one or more 
bureaus organized by the companies for that purpose. Membership in some 
bureau should be compulsory. A bureau should be required to admit any 
authorized company. 

Any company may operate its own bureau, but the necessity for economy 
will compel co-operation. There may be distinct bureaus for separate classes 
of risks. The sprinklered risk business is now being done by both stock and 
mutual companies through practically such bureaus. Companies should have 
an equal voice in management. The expense should be borne in proportion 
to the business done. 

Any agreement between companies, agents or bureaus should be permitted 
on the condition that it be beneficial and open to the public, and may be dis- 
approved by State authority. Every rate should be subject to review before 
the commissioner of insurance on the question whether the schedule has been 



INSURANCE COMMISSIONER. XIX 

correctly applied to the risk, and whether the schedule itself is discriminatory 
as compared with other schedules or with other localities, and he should be 
authorized to order the proper rate or schedule substituted. All orders of 
the commissioner of insurance should be subject to review in the courts as 
provided by the present law. 

In view of the result in the States which have enacted anticompact 
laws, so called, relating to fire insurance companies, and of the con- 
clusions that have been reached by all recent legislative committees 
which have investigated the subject, it is a matter for congratulation 
that this Commonwealth has never been stirred up to enact the drastic 
laws which have been tried in some of the other States, which have 
been followed by demoralization and uncertainty. 

Other Problems for the Companies and the Public. 

But this is not to say that the situation here is ideal in all respects. 
Fire insurance costs altogether too much. There are far too many 
fires to pay for. The expense of conducting the business is much 
too large. The first element of cost the public, if so disposed, can 
remedy. The second ought to be remedied by the companies and 
their agents, but may have to be by the public. The first involves 
fire prevention, and the public is happily awakening to its respon- 
sibility for the excessive waste by fire. The companies should awake 
to their responsibility for the expense element of the rate. First 
there is the agent's commission. It is generally a percentage of the 
premium and is thus a direct incentive to overinsurance. The larger 
the amount placed on a risk the larger the premium and the more 
the commission. The agent's pocket is placed in direct conflict with 
his judgment. It is an unreasonable, illogical and indefensible situ- 
ation. 

Likewise, a company's temptation is to accept overinsurance with- 
out close scrutiny. It means larger premiums, and the overinsurance 
will not be discovered unless there be a fire, and even then only the 
actual loss will be made good, regardless of the amount upon which 
the premium is paid. Thousands of dollars every year are collected 
by insurance companies which do not represent insurance values, 
and which never would be collected if policies were written for real 
values instead of fictitious ones. This, too, is unreasonable, illogical 
and indefensible. Some day it will be reformed, and instead of its 
being for the advantage of both the agents and the companies to 



XX REPORT OF THE 

permit over insurance, a way will be adopted that will make it for 
the profit and advantage of both to do what the public interest re- 
quires. The way of profit will be the way of safety and advantage. 

The agent's compensation comprises more than one-half of the 
expense of the fire insurance business. Property owners on the 
average have to pay approximately 23 per cent, of their premiums 
as the reward to agents for handling the business. To be sure this 
is not all net to the agents, for they give credit and sometimes lose, 
and sometimes represent companies which fail, in which cases they 
frequently feel bound to substitute for the worthless policies others 
in sound companies, and that without extra cost to the policy holders. 
But in normal times, where there is supervision, failures are few, 
and if losses come to an agent through giving credit the public should 
not be saddled- with that burden. However, to minimize such losses 
the Wisconsin committee herein referred to recommends the enact- 
ment of a statute to the effect that whenever a premium on any policy 
of fire insurance is not paid within thirty days after the end of the 
calendar month in which such policy is written the agent shall within 
^.Ye days give notice of its cancellation within the shortest time per- 
mitted by law. The same committee also recommends that agents 
shall be required, within forty-five days of the end of each calendar 
month, to pay their monthly balances for such month to the company, 
and failing to make such payment shall be subject to the revocation 
of their licenses. The proposed statute goes still further, for it would 
limit agents' commissions to 20 per cent., but would permit compen- 
sation by salaries fixed in advance, and if the commission does not 
exceed 15 per cent., would permit a contingent commission on the 
profits. In order to reduce the temperature of any ardor to write 
high-cost insurance, or to increase rates on poor risks for the commis- 
sion, it is further proposed that no commission shall be paid upon 
the part of any premium received upon a rate in excess of 1 per 
cent, of the amount of insurance. With this plan in operation the 
risk which yields a dollar rate will afford the same compensation as 
the one which is rated four times as high. As the higher and more 
hazardous risk is the easier to secure, the actual cost of working up 
such business is less than in case of the best-class risks. The question 
that arises out of such a situation is why compensation should be so 
awarded as to make the worst hazards the best money makers for 
agents. 



INSURANCE COMMISSIONER. XXI 

But while these issues are being discussed in Legislatures and by 
those who are earnestly seeking greater efficiency and economy in 
the conduct of the fire insurance business, the fact should not be lost 
to sight that some of the laws which have been enacted of late have 
not resulted in improvement in the general fire insurance situation. 
If those laws had been enacted in all the States the fire insurance 
companies would have been overburdened. It is obvious that laws 
inimical to the public interest because they in effect discriminate in 
favor of one State as against others in which the same companies are 
doing business, create a situation that will not long be tolerated by 
the States which have to bear greater burdens by reason of such laws. 
The just rule of legislative action should be that only such laws 
relating to fire insurance should be enacted as would, if enacted in 
all the States, result in the general welfare. Laws whose purpose 
is to secure for a particular State an advantage from the insurance 
companies for that State, which advantage, if required by the laws 
of all the States, would ruin the companies, must result finally in 
the retirement of the companies from those States which seek undue 
advantage. 



Department Finances. 

During the fiscal year ending ]STov. 30, 1912, the insurance depart- 
ment collected fees as required under the law amounting to $107,- 
203.07, of which there was received for brokers' licenses, $25,430 ; 
agents' licenses, $55,057 ; valuation of life policies, $16,289.26 ; 
filing annual statements, $5,508; miscellaneous sources, $4,918.81. 
The expenditures on account of the department amounted to $77,- 
501.58, leaving a net surplus accruing to the Commonwealth of 
$29,701.49. 

Respectfully submitted, 

Insurance Commissioner. 



XX11 REPORT OF THE 



REPORTS OF RECEIVERS OF INSURANCE COMPANIES. 



American Insurance Company. — Arthur D. Hill, 53 State Street, 
Boston, receiver; appointed Jan. 17, 1908. The final report of the 
receiver has been allowed by the court and the receiver discharged. 
The report shows that of $10,730 remaining in the receiver's hands 
Oct. 3, 1912, $9,404 has been drawn for payments which include 
final dividends of 3% per cent, and a compromise settlement of 
$153.21 on the claim of the Boston & Maine Railroad. Of the bal- 
ance, $1,172.50 is due Magner Brothers for dividends, payment of 
which is delayed by a trustee process, and the remaining amount is 
covered by checks for dividends sent out and never presented for pay- 
ment, and for miscellaneous expenses. 

The Atlas Mutual Insurance Company. — Franklin T. Hammond, 
50 State Street, Boston, receiver; appointed May 11, 1904. The 
receiver reports on April 25, 1913, the sum of $16,915.55 in his 
hands, the distribution of which is to be decided upon by the Supreme 
Court after the charges of the receivership are paid. The cases on 
the collection of certain assessments which have been before the Xew 
York Court of Appeals have been decided in the receiver's favor, and 
the amounts sued for collected with costs. 

China Mutual Insurance Company. — Arthur D. Hill, 53 State 
Street, Boston, receiver; appointed March 27, 1908. Since April 
30, 1912, claims amounting to $5,293 have been allowed, on which 
dividends of 20 per cent, have been paid, making a total amount of 
all claims allowed of $185,577. There have also been a number of 
claims disallowed, and some are still in the course of negotiation. 
The case referred to in the receiver's preceding report as pending in 
Nova Scotia was appealed to the Supreme Judicial Court of Canada, 
which rendered a decision in the receiver's favor. From this decision 
there is still a possible appeal to the Privy Council in England. 

The situation in respect to the claims of the Fireman's Fund In- 
surance Company and the Firemen's Fund Insurance Corporation 
remains the same as stated in the receiver's report of May 1, 1911. 



INSURANCE COMMISSIONER. XX111 

The receiver reports cash receipts from May 1, 1912, to April 30, 
1913, amounting to $5,630, and disbursements of $4,773.54. The 
assets in his hands April 30, 1913, consisted of railroad stock and 
other securities amounting to $27,326 ; cash on deposit, $35,842.02 ; 
cash in office, $4.47; notes, $14,708.26; premiums due, $3,747.28; 
due from reinsurance, $600; total, $82,228.03. 



XXIV 



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one Mutual Fire, 
Manton Mutual lire, 
Manufacturers' Mutual Fire 
Mechanics' Mutual Fire, . 


Mercantile Mutual Fire, . 
Merchants Mutual Fire, 
Philadelphia Mfrs*. Mutual 
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REPORT OF THE 



Table No. 8. — Statement of the Receipts and Expenditures of the Insurance 
Department for the Fiscal Year ending Nov. 80, 1912. 

[Made pursuant to Acts of 1907, chapter 576, section 17.] 

Receipts. 



Compensation for valuation of life insurance policies, 




816,289 26 


License fees, filing statements, certi 


icates, etc., 




90,913 81 


Total, .... 


8107,203 07 


Expenditures. 


Commissioner. 








Frank H. Hardison, 




.000 00 




Deputy Commissioner. 






Lemuel G. Hodgkins, 




3,500 00 




Examiners. 








Harry L. Peabody, 




3,000 00 




Arthur E. Linnell, from March 1, 




1,875 00 




Actuary. 








Emma W. Cushman, 




2,500 00 




Assistant Actuary. 








George W. Smith, 




1,826 40 




Chief Clerk. 








Arthur E. Linnell, to Februan r 29, 




625 00 




William 0. Richardson, from March 1, . 


1,875 00 




Extra Clerks. 








W. 0. Richardson, to February 29, 


. $500 00 






K. M. O'Leary, . 


. 1,450 00 






I. L. Baker, . 








. 1,187 63 






E. L. Johnson, 








. 1,187 63 






W. N. Magoun, 








. 1,187 49 






H. Harden, . 








. 1,090 24 






M. E. Burrill, 








. 1,087 63 






F. M. Robbins, 








. 1,087 63 






E. E. Holden, 








. 1,080 00 






B. B. Hadley, 








. 1,020 00 






C. E. Weis, . 








. 1,000 00 






G. M. Hall, . 








960 00 






L. A. McGowan, 








960 00 






W. Mullan, . 








955 00 






M. Sanborn, 








900 00 






H. 0. Boone, 








900 00 






S. A. Collins, 








870 00 






E. A. Cowdrey, 








840 00 






L. A. Cutler, 








840 00 






L. M. Draper, 








840 00 






S. E. Gould, 








840 00 






Amounts carri 


°A for 


ward, 




820,783 25 


820,201 40 





INSURANCE COMMISSIONER. 
Table No. 8. — Statement of Receipts, etc. — Continued. 



cxi 



Amounts brought forward, . $20,783 25 


$20,201 40 




F. E. Gowell, ... 840 00 






VI. A. Hosmer, 






840 00 






E. L. Kittredge, . 






840 00 






M. L. McMann, . 






840 00 






Gr. L. Moore, 






840 00 






A.. F. Noyes, 






840 00 






E. A. Perkins, 






840 00 






L. H. Young, 






840 00 






F. M. Corwin, 






828 41 






M. S. Chapin, 






820 00 






3. E. Kimball, . 






789 03 






VL J. Brandon, 






780 00 






F. E. Caverly, 






768 38 






E. Hinckley, 






723 00 






VI. A. McKenzie, 






718 71 






F. M. Dominick, 






707 34 






GL M. Merrill, 






665 81 






E. F. Emerson, 






659 57 






B. I. Grav, . 






642 90 






E. P. Bicknell, to August 31, 






630 00 






H. J. Kelleher, . 






619 36 






E. N. Osgood, 






608 33 






L A. Deady, 






598 71 






L. B. Carlton, 






510 00 






A.. B. Cashman, . 






508 06 






E. I. Feeley, 






500 67 






P. J. McGarry, . 






380 00 






£xtra clerical service, . 






3,389 23 










43,350 76 






# 


Expenses. 






VEarvyn Scudder, appraisals, etc., . . $1,500 00 






5 ostage, express, telephone and telegraph, 1,522 23 






Supplies, 834 46 






Printing, other than report, . . . 2,426 55 






Examination, sundry expenses, . . 723 53 






Expenses of delegates to convention, etc., 613 24 






Miscellaneous expenses, . . . 134 97 






Expenses incurred under Acts 






of 1907, chapter 576, sec- 






tion 6, in examination of 






foreign companies, . . $2,465 87 






Returned to treasury, . . 2,465 87 


r 







$7,754 98 




Less refund, account of 1911 expenses in 






examination of foreign companies (re- 






turned after close of year) , . . 226 20 










7,528 78 








Amount carried forward, 


• 


• 


$71,080 94 





CX11 REPORT OF THE INSURANCE COMMISSIONER. 

Table No. 8. — Statement of Receipts, etc. — Concluded. 



Amount brought forward, 

Printing Report. 
2,500 copies Part I., 
4,000 copies Part II., . 
1,500 copies Tables and Abstracts, 
500 copies Text and Tables, 



$3,096 17 

3,220 32 

86 01 

18 14 



$71,080 94 



6,420 64 



Fees collected and turned into State treasury, . 
Surplus accrued to the Commonwealth, . 



7.501 58 
107,203 07 

$29,701 49 






EIRE AND MARINE INSURANCE COMPANIES. 



Abstracts of Annual Statements for the Year ending 
December 31, 1912. 



ABINGTON MUTUAL FIRE INSURANCE CO. 



MASSACHUSETTS MUTUAL FIRE INSURANCE COMPANIES. 



ABINGTON MUTUAL FIRE INSURANCE COMPANY, ABINGTON. 

Incorporated May 30, 1856. Commenced business June 15, 1857. 
ISAAC C. HOWLAND, President. ALFRED H. NASH, Secretary. 

Income. 
Net premiums, ........ 

Gross interest on mortgages, $694.62; stocks and bonds, $5,204: 

bank deposits, $1,098.30, 

Gross profit on sale of stocks, ..... 
Commissions on return premiums and reinsurance, . 
Dividends and return premiums on reinsurance, 
From all other sources, ...... 

Total income, ....... 

Ledger assets, Dec. 31, 1911, ..... 



Total, 



Disbursements. 



Net amount paid policy holders for losses, 
Expenses of adjustment and settlement of losses, 
Commissions or brokerage, .... 

Salaries, fees, etc., of officers and employees, . 
Rents, ....... 

Advertising, printing and stationery, 
Postage, telegrams, telephone and express, 
Maps, including corrections, .... 

Underwriters' boards and tariff associations, . 

Fire department, patrol and salvage corps fees and 

Inspection and surveys, 

State taxes on premiums, 

Other licenses, fees and taxes, 

Dividends to policy holders, 

Gross decrease in book value of bonds, 

All other disbursements, 

Total disbursements, 

Balance, 

Ledger Assets. 
Mortgage loans on real estate, 
Book value of stocks and bonds (Schedule A), 
Cash in office, ...... 

Deposits in trust companies and banks on interest, 
Agents' balances, ..... 

Total ledger assets, .... 



taxes, 



6,996 92 


1,000 00 


325 26 


313 96 


125 00 


$60,926 27 


171,904 53 


$232,830 80 


$19,004 50 


464 52 


7,504 20 


4,172 95 


465 00 


491 77 


255 58 


108 65 


274 02 


46 05 


536 93 


545 82 


366 85 


18,720 65 


88 80 


227 16 


$53,273 45 


$179,557 35 


$11,901 00 


133,920 00 


'471 61 


29,748 02 


3,516 72 


$179,557 35 



ABINGTON MUTUAL FIRE INSURANCE CO. 



Non-Ledger Assets. 
Interest accrued on: — 
Mortgages, $215.22; bonds, $1,654.60, . 



$1,869 82 



Gross assets, ..... 


. 


$181,427 17 


Assets not admitted. 




Agents' 'balances over three months due, 


$15 20 




Book value of stocks and bonds over market value, 6,415 00 


6,430 20 


Admitted assets, ..... 


. 


$174,996 97 


Liabilities. 






Unpaid losses, . . . 


. . . 


$449 66 


Unearned premiums on outstanding risks, 


. 


74,578 04 


Dividends due policy holders, 


... 


614 59 


Salaries, expenses and accounts, due or accrued, 


... 


161 50 


Federal, state and other taxes, due or accrued, 


. 


337 83 


Total, 




$76,141 62 


Surplus to policy holders, .... 


. 


98,855 35 


Total liabilities, including surplus, . 


. 


$174,996 97 


Risks and Premiums. 




Risks. 


Cash Prem's. 


Conting't Prem's. 


In force Dec. 31, 1911, . . $9,195,475 00 


$143,862 35 


$143,862 35 


Written during the year, . 3,508,548 00 


54,754 45 


54,754 45 


Total, .... $12,704,023 00 


$198,616 80 


$198,616 80 


Expired and terminated, . 3,138,443 00 


50,251 08 


50,251 08 


In force at end of year, . $9,565,580 00 


$148,365 72 


$148,365 72 


Deduct amount reinsured, . 147,138 00 


2,059 85 


— 


Net amount in force, . . $9,418,442 00 


$146,305 87 


- 


Miscellaneous. 






Net premiums received from organization of company, . . $1,282,657 63 


Net losses paid from organization of company, 


. . . 


510,061 59 


Cash dividends paid policy holders from organization of company, 


380,245 08 


Losses incurred during the year, 


. 


19,436 91 


Dividends to policy holders during 1912, 20, 40 and 60 per cent. 




Schedule A. Stocks and Bonds owned by the Company. 


Bank Stocks. 


Book Value. Rate. 


Market Value. 


15 shares Abington National, .... 


$1,500 00 100 


$1,500 00 


14 " First National, Salem, 


420 00 5 


70 00 


5 " Old Boston National, Boston, 


500 00 126 


630 00 


5 " Whitman National, .... 


500 00 105 


525 00 


State and Municipal Bonds. 






Boston, Mass., 3is, 1923 


4,000 00 96 


3,840 00 


Boston, Mass., 3£s, 1919, 


1,000 00 97 


970 00 


Brockton, Mass., 3is, 1932, .... 


5,000 00 93 


4,650 00 


Cambridge, Mass., 3is, 1918 


2,000 00 98 


1,960 00 


Chicago, 111., 4s, 1914, 


2,000 00 100 


2,000 00 


Fort Worth, Texas, 4£s, 1949, .... 


5,000 00 99 


4,950 00 


Los Angeles, Cal., 4|s, 1933, .... 


5,000 00 100 


5,000 00 


Massachusetts 3s, 1929-30, .... 


4,000 00 93 


3,720 00 



ANNISQUAM MUTUAL FIRE INSURANCE CO. 



Massachusetts 3s, 1941, . 

New Bedford, Mass., 3£s, 1913, 

Salt Lake City, Utah, 4s, 1921, . 

South Abington (now Whitman), Mass., 4s, 1913, 

Railroad Bonds. 
Boston Elevated 4§s, 1941, 
Boston Elevated 5s, 1942, 
Boston & Maine 4s, 1926, 
Chicago, Burlington & Quincy 3 §3, 1949, 
Chicago Junction & Union Stock Yards 4s, 1940, 
Chicago & Northwestern 5s, 1921, 
Chicago & Northwestern 4s, 1926, 
Concord & Montreal deb. 4s, 1920, 
Concord & Montreal 3$s, 1920, . 
Fitchburg 4s, 1925, . 
Flint & Pere Marquette 6s, 1920, 
Illinois Central (Louisville D. & T.) 1st 3§s, 1953 
Illinois Central (Litchfield Div.) 3s, 1951, . 
Maine Central 4$s, 1916, .... 
New York Central & Hudson River 4s, 1934, 
New York Central & Hudson River 3|s, 1997, 
New York Central Lines Equipment 5s, 1917, 
New York, New Haven & Hartford 4s, 1914, 
New York, New Haven & Hartford 3$s, 1954, 
Old Colony 3£s, 1932, 
Pennsylvania convertible 3§s, 1915, 
Princeton & Northwestern 3£s, 1926, . 
Rockland & Abington Street 6s, 1915, 
Taunton Street 5s, 1914, . 
Terminal Association of St. Louis 43s, 1939 
Trenton Passenger 6s, 1931, 
West End Street 4s, 1915, 
Worcester Consolidated Street 5s, 1927, 

Miscellaneous Bonds. 
American Telephone & Telegraph Co. 4s, 1929, 



Book Value. 

$1,000 00 
2,000 00 
5,000 00 
2,000 00 



00 
00 
00 
00 
00 
00 
00 
00 
00 



2,000 
3,000 
8,000 
3,000 
3,000 
2,000 
5,000 
3,000 
5,000 
3,000 00 
1,000 00 
3,000 00 
2,000 00 
2,000 00 
1,000 00 
2,000 00 
3,000 00 
3,000 00 
3,000 00 
4,000 00 
2,000 00 
3,000 00 
1,000 00 
5,000 00 
2,000 00 
2,000 00 
3,000 00 
4,000 00 

10,000 00 
$133,920 00 



Rate. 

90 
100 

97 
100 

96 

103 

94 

86 

88 

103 

96 

96 

93 

97 

105 

85 

75 

100 

91 

87 

101 

99 

79 

90 

97 

92 

104 

100 

104 

114 

99 

105 

89 



Market Value. 

>0 00 

2,000 00 

4,850 00 

2,000 00 

1,920 00 
3,090 00 
7,520 00 
2,580 00 
2,640 00 
2,060 00 
4,800 00 
2,880 00 
4,650 00 
2,910 00 
1,050 00 
2,550 00 
1,500 00 
2,000 00 
910 00 
1,740 00 
3,030 00 
2,970 00 
2,370 00 
3,600 00 
1,940 00 
2,760 00 
1,040 00 
5,000 00 
2,080 00 
2,280 00 
2,970 00 
4,200 00 

8,900 00 
$127,505 00 



ANNISQUAM MUTUAL FIRE INSURANCE COMPANY, GLOUCESTER. 

Incorporated March 1, 1847. Commenced business Dec. 28, 1847. 

BRADBURY H. HUFF, President. WILLIAM H. JEWETT, Secretary. 

[This company relies upon assessments on deposit notes to pay losses and expenses.] 

Income. 
Assessments, ......... S263 95 

Gross interest on mortgages, $441.25; bank deposits, $179.15, . 620 40 

Total income, ..... 
Ledger assets, Dec. 31, 1911, 

Total, 

Disbursements. 
Net amount paid policy holders for losses, 
Salaries, fees, etc., of officers and employees, 
Rents, 

Printing and stationery, 
Postage, telephone and express, 
State taxes on assessments, . 
Dividends to policy holders, . 
All other disbursements, 

Total disbursements, 

Balance, 



$884 35 


11,435 83 


$12,320 18 


$55 00 


354 00 


10 00 


4 10 


4 78 


1 49 


122 04 


14 30 


$565 71 



$11,754 47 



ARKWRIGHT MUTUAL FIRE INSURANCE CO. 



Ledger Assets. 
Mortgage loans on real estate, .... 

Cash in office, ....... 

Deposits in trust companies and banks not on interest, 
Deposits in trust companies and banks on interest, . 
Safe, ........ 

Total ledger assets, ..... 

Non-Ledger Assets. 

Interest due and accrued on : — 
Mortgages, $128.10; savings bank deposits, $27.17, . 

Gross assets, ...... 

Assets not admitted. 
Safe, . . . ; . . 
Interest accrued on savings bank deposits, 

Admitted assets, ...... 

Liabilities. 
Dividends due policy holders, .... 

Risks and Premiums. 

In force Dec. 31, 1911, .... 

Written during the year, .... 



$6,775 00 


33 02 


32 31 


4,829 14 


85 00 


$11,754 47 



$85 
27 



Risks. 

$256,280 
41,175 



00 
00 



Total, . 
Expired and terminated, 

In force at end of year, 



$297,455 
50,455 



00 
00 



$247,000 00 



Miscellaneous. 



Losses incurred during the year, 



155 27 



$11,909 74 

00 

17 112 17 



$11,797 57 



$16 74 



Conting't Prem's. 



$2,689 97 



$55 00 



ARKWRIGHT MUTUAL FIRE INSURANCE COMPANY, BOSTON. 

Incorporated Feb. 8, 1860. Commenced business Oct. 1, 1860. 
R. W. TOPPAN, President. D. W. BARTLETT, Secretary. 

Office, 81 Milk Street. 

Income. 

Net premiums, $1,724,483 60 

Gross interest on bonds,$78,540.61; bank deposits, $4,117.99; all 

other, $12.68, 82,671 28 

From all other sources, ....... 722 87 



Total income, ..... 
Ledger assets, Dec. 31, 1911, 

Total, 

Disbursements. 
Net amount paid policy holders for losses, 
Salaries, fees, etc., of officers and employees, . 
Rents, ....... 



. $1,807,877 75 
. 2,130,947 57 

. $3,938,825 32 



$67,828 64 

45,002 49 

2,701 68 



ARKWRIGHT MUTUAL FIRE INSURANCE CO. 



Advertising, printing and stationery, 

Postage, telegrams, telephone and express, 

Legal expenses, ..... 

Furniture and fixtures, 

Inspection department, for inspections, maps, plans 

ment of losses, ..... 
State taxes on premiums, 
Insurance department licenses and fees . 
Other licenses, fees and taxes, 
Dividends to policy holders, . 
Gross decrease in book value of bonds, . 
Traveling expenses, .... 
All other disbursements, 

Total disbursements, 

Balance, ..... 

Ledger Assets. 
Book value of bonds (Schedule A), 
Cash in office, ...... 

Deposits in trust companies and banks on interest, 
Premiums in course of collection, . 



Non-Ledger Assets. 



Total ledger assets, 

Interest accrued on bonds, .... 
Gross assets, ..... 

Assets not admitted. 
Book value of bonds over market value, 

Admitted assets, ..... 

Liabilities. 
Unpaid losses, ...... 

Unearned premiums on outstanding risks, 
Salaries, expenses and accounts, due or accrued, 
Federal, state and other taxes, due or accrued, 

Total, . 

Surplus to policy holders, .... 

Total liabilities, including surplus, . 

Risks and Premiums. 



$6,418 45 


2,195 98 


236 25 


858 76 


and adjust- 


37,498 32 


17,763 01 


125 00 


8,811 32 


. 1,520,165 82 


10,900 00 


2,094 03 


1,213 89 


. $1,723,813 64 


. $2,215,011 68 


. $2,024,952 00 


575 63 


138,136 03 


51,348 02 


. 82,215,011 68 


26,622 91 


. $2,241,634 59 


82,152 00 


. 82,159,482 59 


86,292 61 


. 1,109,464 57 


1,000 00 


46,104 90 



81,162,862 08 
996,620 51 

82,159,482 59 



In force Dec. 31, 1911, 
Written during the year, 

Total, . 
Expired and terminated, 



Risks. Cash Prem's. 

. $288,448,298 00 $2,078,468 77 
. 251,291,581 00 1,778,269 38 



Conting't Prem's. 

$10,392,343 S5 
8,891,346 90 

S19,2S3,690 75 
8,446,884 65 

In force at end of year, . $301,685,479 00 82,167,361 22 810,836,806 10 



$539,739,879 00 $3,856,738 15 
238,054,400 00 1,689,376 93 



ARKWRIGHT MUTUAL FIRE INSURANCE CO. 



Miscellaneous. 
Net premiums received from organization of company, . . $31,264,672 25 
Net losses paid from organization of company, . . . 3,252,618 69 

Cash dividends paid policy holders from organization of company, 24,897,916 57 
Losses incurred during the year, . . . . . . 69,515 43 

Dividends to policy holders during 1912, 93 and 88 per cent. 



Schedule A. Bonds owned by the Company. 



State and Municipal Bonds. 
Boston, Mass., 3^s, 1932, . 
Boston, Mass., 3^s, 1945, . 
Cambridge, Mass., 3§s, 1920, 
Lowell, Mass., 4s, 1920, . 
Massachusetts 3s, 1939, 
Massachusetts 3s, 1940, 
New York, N. Y., 4s, 1955, 
New York, N. Y., 4£s, 1957, 

Railroad Bonds, 
Atchison, Topeka & Santa Fe 4?s, 1962, 
Boston & Albany 3|s, 1952, 
Boston & Albany 4s, 1913, 
Boston & Albany 4s, 1933, 
Boston & Albany 4s, 1934, 
Boston Elevated 4£s, 1937, 
Boston Elevated 4s, 1935, 
Boston Elevated 4|s, 1941, 
Boston & Lowell 4s, 1913, 
Boston & Lowell 4s, 1932, 
Boston & Maine 4s, 1942, 
Boston & Maine 4|s, 1944, 
Boston & Providence 4s, 1918, 
Chicago, Burlington & Quincy 3|s, 1949, 
Chicago, Burlington & Quincy 4s, 1958, 
Chicago Junction & Union Stock Yards 5s, 1915, 
Chicago, Milwaukee & St. Paul 4s, 1934, 
Chicago & Northwestern 5s, 1933, 
Concord & Montreal 4s, 1920, 
Delaware & Hudson 4s, 1943, 
Delaware & Hudson 4s, 1916, 
Erie & Pittsburg 3|s, 1940, 
Fitchburg 4s, 192*, 
Lake Shore & Michigan Southern 3§s, 1997, 
Lake Shore & Michigan Southern 4s, 1931, 
New England 4s, 1945, .... 
New York Central & Hudson River 3£s, 1997, 
New York Central & Hudson River 3£s, 1998, 
New York Central Lines Equipment 4^s, 1918, 
New York, New Haven & Hartford 3§s, 1947, 
N. Y., N. H. & H. (H. R. & Pt. C. Div.) 4s, 1954, 
New York, Philadelphia & Norfolk 4s, 1939, 
Norwich & Worcester 4s, 1927, 
Old Colony 4s, 1938, 
Oregon-Wash. R.R. & Navigation Co. 4s, 1961, 
Pennsylvania Co. 4|s, 1921, 
Pennsylvania Co. 4s, 1931, 
Portland & Ogdensburg 4 is, 1928, 
West End Street 4s, 1932, 

Miscellaneous Bonds. 
American Tel. & Tel. Co. 4s, 1929, 
Massachusetts Gas Co. 4|s, 1931, 
New York Telephone Co. 4§s, 1939, 
Western Eectric Co. 5s, 1922, . 



Book Value. 
$50,000 00 
30,000 
25,000 
20,000 
52,000 
42,000 
50,000 00 
50,000 00 



00 
00 
00 
00 
00 



50,000 00 
44,762 00 
30,000 00 
49,225 00 
24,750 00 
20,000 00 
50,000 00 
25,000 00 
35,000 00 
54,875 00 
48,000 00 
25,000 00 
20,000 00 
48,000 00 
24,937 00 
23,719 00 
47,375 00 
25,000 00 
25,000 00 
24,750 00 
48,875 00 
24,750 00 
50,000 00 
49,500 00 
23,906 00 
30,000 00 
70,766 00 
34,575 00 
50,000 00 
50,000 00 
79,700 00 
50,000 00 
50,000 00 
40,000 00 
46,625 00 
30,000 00 
19,400 00 
25,000 00 
44,375 00 

70,937 00 
73,125 00 
24,275 00 
24,750 00 

$2,024,952 00 



Rate. 
93 
91 
97 
99 
85 
84 
94 
105 

100 
84 

100 
95 
95 
96 
90 
96 

100 
95 
90 
98 
99 
86 
95 

100 
91 

108 
98 
99 
97 
91 
97 
88 
92 
98 
87 
79 
99 
80 
97 
97 
98 
96 
91 

103 
96 

102 
94 

89 

98 

97 

102 



Market Value. 

$46,500 00 

27,300 00 

24,250 00 

19,800 00 

46,750 00 

37,800 00 

47,000 00 

52,500 00 

50,000 00 
42,000 00 
30,000 00 
47,500 00 
23,750 00 
19,200 00 
45,000 00 
24,000 00 
35,000 00 
52,250 00 
45,000 00 
24,500 00 
19,800 00 
43,000 00 
23,750 00 
25,000 00 
45,500 00 
27,000 00 
24,500 00 
24,750 00 
48,500 00 
22,750 00 
48,500 00 
44,000 00 
23,000 00 
29,400 00 
65,250 00 
31,600 00 
49,500 00 
40,000 00 
77,600 00 
48,500 00 
49,000 00 
38,400 00 
45,500 00 
30,900 00 
19,200 00 
25,500 00 
42,300 00 



66,750 
73,500 
24,250 
25,500 



00 
00 
00 
00 



$1,942,800 00 



8 






ATTLEBOROUGH MUTUAL FIRE INSURANCE CO. 



ATTLEBOROUGH MUTUAL FIRE INSURANCE COMPANY, 

ATTLEBOROUGH. 

Incorporated Feb. 24, 1844. Commenced business July 18, 1845. 
CHARLES H. WHEELER, President. JAMES S. PALMER, Secretary. 

Income. 
Net premiums, 



29; stocks and bonds,$858.05; 



Gross interest on mortgages, $1,111 

bank deposits, $409.97, 
Gross profit on sale of bonds, 
Borrowed money, 
Dividends on reinsurance, 
From all other sources, 

Total income, 
Ledger assets, Dec. 31, 1911, 

Total, .... 



Disbursements. 
Net amount paid policy holders for losses, 
Expenses of adjustment and settlement of losses, 
Commissions or brokerage, . 
Salaries, fees, etc., of officers and employees, 
Rents, ...... 

Advertising, printing and stationery, 
Postage, telegrams, telephone and express, 
Furniture and fixtures, 
Inspections and surveys, 
State taxes on premiums, 
Dividends to policy holders, . 
Interest on borrowed money, 
Borrowed money repaid, 
All other disbursements, 

Total disbursements, 

Balance, ..... 

Ledger Assets. 

Mortgage loans on real estate, 
Book value of stocks and bonds (Schedule A), 
Deposits in trust companies and banks on interest, 
Agents' balances, ..... 

Total ledger assets, .... 

Non-Ledger Assets. 

Interest accrued on : — 
Mortgages, $125.75; bonds, $87.50, 
Due from other companies, .... 



816,589 62 


2,379 31 
50 

4,500 00 
23 39 
74 00 



$23,566 82 
57,044 08 



S80,610 90 


$23,330 15 
123 52 


4,541 35 

2,404 55 

192 00 


405 15 


143 52 


165 35 


25 33 


141 50 


8,967 45 
25 20 


4,500 00 
24 00 


$44,989 07 


$35,621 83 


$16,305 00 
7,000 00 


9,200 15 
3,116 68 



835,621 83 



213 25 
20 00 



Gross assets, 



835,855 OS 



ATTLEBOROUGH MUTUAL FIRE INSURANCE CO. 



9 



Assets not admitted. 

Agents' balances over three months due, . . $497 49 

Book value of stocks and bonds over market value, 200 00 

Admitted assets, ........ 

Liabilities. 
Unpaid losses, including $1,500 resisted, $2,050; less reinsur- 
ance, $500, ..... 
Unearned premiums on outstanding risks, 
Dividends due policy holders, 
Salaries, expenses and accounts, due or accrued, 
Federal, state and other taxes, due or accrued 
Due for reinsurance, .... 

Total, 

Surplus to policy holders, 

Total liabilities, including surplus, . 



$697 49 



$35,157 59 



$1,550 00 

23,077 60 

81 79 

500 00 

38 76 

1,851 63 

$27,099 78 
8,057 81 

$35,157 59 



In force Dec. 31, 1911, 
Written during the year, 

Total, . 
Expired and terminated, 

In force at end of year, 
Deduct amount reinsured, 

Net amount in force, 



Risks and Premiums. 

Risks. 

$7,103,068 00 
2,556,929 00 



$9,659,997 00 
3,396,767 00 

$6,263,230 00 
3,982,959 00 

$2,280,271 00 



Cash Prem's. 

$89,222 59 
34,417 80 



$123,640 39 
43,373 54 



,266 85 
35,492 32 



$44,774 53 



Conting't Prem's. 

$89,222 59 
34,417 80 

$123,640 39 
43,373 54 

$80,266 85 



Miscellaneous. 

Net premiums received from organization of company, . . $231,647 68 

Net losses paid from organization of company, . . . 175,878 79 

Cash dividends paid policy holders from organization of company, 13,254 24 

Losses incurred during the year, ...... 22,760 15 

Dividends to policy holders during 1912, 40-25 and 50-45 per cent. 

Schedule A. Stocks and Bonds owned by the Company. 

Railroad Stocks. Book Value. Rate. Market Value. 

10 shares Hereford, $1,000 00 88 $880 00 

Railroad Bonds. 

Bridgewater, Whitman & Rockland St. 5s, 1917, . 1,000 00 100 1,000 00 

Metropolitan Street, Kansas City, 5s, 1913, . 2,000 00 95 1,900 00 

Miscellaneous Bonds. 

Arlington Gas Light Co. 5s, 1927, . . . 1,000 00 100 1,000 00 

Northampton Electric Light Co. 5s, 1927, . . 1,000 00 102 1,020 00 

Plymouth Electric Light Co. 5s, 1925, . . 1,000 00 100 1,000 00 



$7,000 00 



$6,800 00 



10 



BARNSTABLE COUNTY MUTUAL FIRE INSURANCE CO. 



845,325 58 


6,664 55 

1,500 00 

57 50 

96 15 

1 95 



BARNSTABLE COUNTY MUTUAL FIRE INSURANCE COMPANY, 

YARMOUTHPORT. 

Incorporated March 2, 1833. Commenced business Aug. 1, 1833. 
ALPHONSO L. WEEKES, President. JOHN H. CLARK, Secretary. 

Income. 
Net premiums, ......... 

Gross interest on stocks and bonds, $6,165.74; bank deposits, 

$298.81; gross rents, for company's own occupancy, $200, 
Gross profit on sale of stocks, ...... 

Dividend, National Bank of Republic, in liquidation, 

Sale of rights, ......... 

From all other sources, ..... 

Total income, ..... 
Ledger assets, Dec. 31, 1911, 

Total, 

Disbursements. 

Net amount paid policy holders for losses, 
Expenses of adjustment and settlement of losses, 
Salaries, fees, etc., of officers and employees, 
Rents, for company's own occupancy, 
Advertising, printing and stationery, 
Postage, telegrams, telephone and express, 
Underwriters' boards and tariff associations, 
Repairs and expenses on real estate, 
Taxes on real estate, .... 
State taxes on premiums, 
Dividends to policy holders, . 
Premium on stocks and bonds purchased, 
All other disbursements, 

Total disbursements, 

Balance, ..... 

Ledger Assets. 
Book value of real estate, ..... 

Book value of stocks and bonds (Schedule A), 
Cash in office, ....... 

Deposits in trust companies and banks not on interest, 
Deposits in trust companies and banks on interest, . 

Total ledger assets, ..... 

Non-Ledger Assets. 
Interest accrued on bonds, ..... 
Market value of stocks and bonds over book value, 

Gross assets, ...... 

Liabilities. 
Unpaid losses, ....... 

Unearned premiums on outstanding risks, 



. 


853,645 73 


• 


132,169 19 


• 


8185,814 92 




$9,181 02 




100 50 




8,172 08 




200 00 




201 82 




202 54 




203 87 




243 62 




18 13 




427 94 




23,284 26 




296 25 




37 90 




$42,569 93 




8143,244 99 




81,000 00 




132,200 00 




240 26 




2,019 18 




7,785 55 


• 


$143,244 99 




1,456 65 


• 


13,300 00 



$15S,001 64 

8200 00 
71,673 SO 



BAKNSTABLE COUNTY MUTUAL FIRE INSURANCE CO. 



11 



Dividends due policy holders, 

Salaries, expenses and accounts, due or accrued, 

Federal, state and other taxes, due or accrued, 

Total, 

Surplus to policy holders, .... 

Total liabilities, including surplus, . 



$75 74 

50 00 

123 07 



In force Dec. 31, 1911, 
Written during the year, 

Total, . 
Expired and terminated, 

In force at end of year, 



Risks and Premiums. 

Risks. Cash Prem's. 

. $7,988,784 00 $138,640 85 
2,527,655 00 45,445 24 



$10,516,439 00 
2,410,145 00 



$184,086 09 
43,410 38 



$72,122 61 
85,879 03 

$158,001 64 



Conting't Prem's. 

$138,640 85 
45,445 24 

$184,086 09 
43,410 38 



;,106,294 00 $140,675 71 $140,675 71 



Miscellaneous. 

Net premiums received from organization of company, . . $1,383,473 52 

Net losses paid from organization of company, . . . 381,613 75 

Cash dividends paid policy holders from organization of company, 846,533 53 

Losses incurred during the year, ...... 9,181 02 

Dividends to policy holders during 1912, 50 and 60 per cent. 

Schedule A. Stocks and Bonds owned by the Company. 

Railroad Stocks. 
12 shares Chicago & Northwestern, 
24 " New York, New Haven & Hartford, 
70 " Old Colony, 
10 " Southern Pacific, 
30 " Union Pacific, common, 
8 " Union Pacific, preferred, 
20 " West End Street, preferred, 
30 " West End Street, common, . 

Bank Stocks. 
10 shares Falmouth National, 

10 " First National, Hyannis, Mass., 

11 " First National, Boston, 
8 " First National, Yarmouth, Mass., 

10 " Merchants National, Boston, 
17 " National Shawmut, Boston, 

Miscellaneous Stocks. 
50 shares Massachusetts Real Estate Co., 

State and Municipal Bonds. 
Massachusetts 3§s, 1935, 
Salem, Mass., 4§s, 1914, . 
Waltham, Mass., 4£s, 1918, 
Yarmouth, Mass., 4s, 1913-14, 

Railroad Bonds 
Atch., Topeka & Santa Fe general 4s, 1995, 
Boston Elevated Street 4fs, 1937, 
Boston & Maine 4s, 1942, 
Boston & Maine 4s, 1937, 
Chicago, Burlington & Quincy 3^s, 1949, 
Chicago & Eastern Illinois 6s, 1934, . 
Chicago & Eastern Illinois 4|s, 1913, . 
Chicago Junction & Union Stock Yards 5s, 1915, 
Chicago & Northwestern 4s, 1926, 
Concord & Montreal 4s, 1920, . 

Fitchburg 4s, 1915 

Illinois Central 4s, 1950, . 

Lake Shore & Michigan Southern 4s, 1928, 



Book Value. 


Rate. 


Market Value. 


$1,200 00 


138 


• $1,656 00 


rd, . 2,400 


00 


128 


3,072 00 


7,000 


00 


177 


12,390 00 


600 


00 


108 


1,080 00 


3,000 


00 


164 


4,920 00 


600 


00 


92 


736 00 


2,000 


00 


203 


2,030 00 


2,500 


00 


162 


2,430 00 


1,000 


00 


106 


1,060 00 


1,000 


00 


150 


1,500 00 


1,900 


00 


460 


5,060 00 


800 


00 


140 


1,120 00 


3,000 


00 


303 


3,030 00 


1,900 


00 


243 


4,131 00 


1,000 


00 


34 


' 1,700 00 


1,000 


00 


94 


940 00 


2,000 


00 


101 


2,020 00 


1,000 


00 


102 


1,020 00 


3,800 


00 


100 


3,800 00 


1,000 


00 


97 


970 00 


1,000 


00 


96 


960 00 


9,000 


00 


90 


8,100 00 


3,000 


00 


91 


2,730 00 


1,000 


00 


86 


860 00 


1,000 


00 


122 


1,220 00 


2,000 


00 


100 


2,000 00 


1915, . 2,000 


00 


100 


2,000 00 


5,000 


00 


96 


4,800 00 


3,000 


00 


98 


2,940 00 


4,000 


00 


99 


3,960 00 


2,000 


00 


94 


1,880 00 


8,000 


00 


92 


7,360 00 






12 



BERKSHIRE .MUTUAL FIRE INSURANCE CO. 



Lake Shore & Michigan Southern 4s, 1931, 

Lynn & Boston 5s, 1924 

New York Central (Mich. Cen. Col.) 3£s, 1998, 
N. Y., N. H. & H. (H. R. & Pt. C. Div.) 4s, 1954, 
N. Y., N. H. & Hartford conv. 3£s, 195G, . 
N. Y., N. H. & Hartford conv. 6s, 1948, . 
Omaha & Council Bluffs Ry. & Bridge 5s, 1928, 
Oregon Short Line 5s, 1946, 
Portland & Ogdensburg 4£s, 1928, 
Terminal Association of St. Louis 4|s, 1939, 
United Traction & Electric Co. 5s, 1933, 
West End Street 4s, 1917, 
Worcester Consolidated Street 4|s, 1930, 
Worcester Consolidated Street 5s, 1927, 

Miscellaneous Bonds. 
American Agricultural Chem. Co. 5s, 1928, 
American Telephone & Telegraph Co. 4s, 1929, 
Western Telephone & Telegraph Co. 5s, 1932, 



Book Value. 

SI, 000 00 
1,000 00 
1,000 00 

10,000 00 
1,500 00 
1,000 00 
2,000 00 
1,000 00 
3,000 00 
3,000 00 
3,000 00 
3,000 00 
6,000 00 
4,000 00 

4,000 00 
4,000 00 
4,000 00 

S132.200 00 



Rate. 

92 

103 

79 

97 

87 

125 

98 

109 

102 

104 

104 

98 

99 

105 

101 

89 
100 



00 
00 
00 
00 
00 
00 
00 



Market Value. 
$920 00 
1,030 

9,700 
1,305 
1,260 
1,900 

1,090 
3,060 00 
3,120 00 
3,120 00 
2,940 00 
5,940 00 
4,200 00 

4,040 00 
3,560 00 
4,000 00 

$145,500 00 



BERKSHIRE MUTUAL FIRE INSURANCE COMPANY, PITTSFIELD. 

Incorporated March, 1835. Commenced business August, 1835. 
HENRY R. PEIRSON, President. ROBERT A. BARBOUR, Secretary. 

Income. 

Net premiums, . S92,168 88 

Gross interest on mortgages, $640; stocks and bonds, 88,993.73, . 9,633 73 

Total income, ..... 

Ledger assets, Dec. 31, 1911, 



Total, 



Disbursements. 



Net amount paid policy holders for losses, 
Expenses of adjustment and settlement of losses, 
Commissions or brokerage, .... 

Agency expenses, .... 

Salaries, fees, etc., of officers and employees, . 
Rents, ....... 

Advertising, printing and stationery, 
Postage, telegrams, telephone and express, 
Furniture and fixtures, .... 

Maps, including corrections, .... 

Underwriters' boards and tariff associations, . 
Fire department, patrol and salvage corps fees and 
Inspections and surveys, .... 

State taxes on premiums, .... 

Insurance Department licenses and fees, 

Other licenses, fees and taxes, 

Dividends to policy holders, 

Agents' balances charged off, 

Gross loss on sale of bonds, .... 

Traveling expenses, ..... 

All other disbursements, .... 

Total disbursements, .... 

Balance, ...... 



• 


$101,802 61 
211,742 75 


$313,545 36 






$45,143 51 
711 09 






13,793 24 






163 13 






6,942 80 
1,200 00 
1,389 62 






642 49 






128 00 






140 33 






389 28 


taxes, 




130 08 






733 47 






1,048 12 
487 79 






348 62 






22.116 57 
105 38 






39S 75 






791 34 






742 38 


$97,545 99 


$215,999 37 



BERKSHIRE MUTUAL FIRE INSURANCE CO. 



13 



Ledger Assets. 

Mortgage loans on real estate, 

Book value of stocks and bonds (Schedule A), 

Cash in office, . . . . . 

Deposits in trust companies and banks not on interest, 

Agents' balances, ...... 

Total ledger assets, 

Non-Ledger Assets. 

Interest accrued on bonds, ..... 
Market value of stocks and bonds over book value, 



Gross assets, ........ 

Assets not admitted. 
Agents' balances over three months due, . . . . 

Admitted assets, ........ 

Liabilities. 

Unpaid losses, including $75 resisted, $2,893.13; less reinsurance, 

$65.55, . . . . . 
Unearned premiums on outstanding risks, 
Dividends due policy holders, 
Salaries, expenses and accounts, due or accrued, 
Federal, state and other taxes, due or accrued, 
Due for reinsurance, ..... 

Total, 

Surplus to policy holders, .... 

Total liabilities, including surplus, . 



$12,800 00 

183,951 47 

810 84 

5,118 56 

13,318 50 

$215,999 37 



1,186 18 
3,885 53 

$221,071 08 



11 95 



$221,059 13 


$2,827 58 
113,304 70 
690 72 
653 30 
795 33 
899 73 



$119,171 36 

101,887 77 

$221,059 13 



In force Dec. 31, 1911, 
Written during the year, 

Total, . 
Expired and terminated, 

In force at end of year, 
Deduct amount reinsured, 

Net amount in force, . 



Risks and Premiums. 

Risks. 

$17,645,871 00 
8,227,276 00 



$25,873,147 00 
6,692,473 00 

$19,180,674 00 
2,356,746 00 



Cash Prem's. 

$234,405 23 
111,864 26 



$346,269 49 
96,114 44 

$250,155 05 
29,517 47 



Conting't Prem's. 

$234,405 23 
111,864 26 

$346,269 49 
96,114 44 

$250,155 05 



$16,823,928 00 $220,637 58 



Miscellaneous. 
Net premiums received from organization of company, 
Net losses paid from organization of company, 
Cash dividends paid policy holders from organization of company, 
Losses incurred during the year, ...... 

Dividends to policy holders during 1912, 20, 25, 30, 35 and 40 per cent. 



$1,482,138 18 

588,066 55 

493,672 95 

45,803 37 






14 



BOSTON MANUFACTURERS MUTUAL FIRE INSURANCE CO. 



Schedule A. Stocks and Bonds owned by the Company. 

Railroad Stocks. 
10 shares Baltimore & Ohio, preferred, 
50 " Chicago & Northwestern, . 
50 " Chicago, St. Paul, Minn. & Omaha, 
80 " N. Y. Central & Hudson River, . 
110 " Pennsylvania, .... 

Bank Stocks. 

10 shares Agricultural National, Pittsfield, 

10 " First National, Adams, 
4 " Lee National, Lee, 

10 " Lenox National, 

10 " North Adams National, 

58 " Pittsfield National, . 

12 u Third National, Pittsfield, 
Miscellaneous Stocks. 
100 shares Adams Express Co., . 
120 " American Telephone & Telegraph Co., 

Municipal Bonds. 
Geneva, N. Y., 4*s, 1924, . 
Lackawanna, N. Y., road 5s, 1935-36, 
Lynn, Mass., 4s, 1916, 
New Bedford, Mass., 3|s, 1920, 
Pittsfield, Mass., 3|s, 1924, 
Salem, Mass., 3§s, 1923-25, 
Salem, Mass., 3£s, 1926, . 
Salem, Mass., 4s, 1925, 
Taunton, Mass., 4s, 1927, 

Railroad Bonds. 
Baltimore & Ohio prior lien Z\s, 1925, 
Boston & Maine 4?s, 1944, 
Chicago, Burl. & Quincy (111. Div.) 3£s, 1949, 
Chicago, Rock Is. & Pac. 1st ref. 4s, 1934, . 
Greenfield & Turners Falls Street 5s, 1916, . 
Northern Maine Seaport 1st 5s, 1935, 
St. Paul & Sioux City 1st 6s, 1919, . 
United Tr. & Elec. Co., Providence, 5s, 1933, 
Vermont Valley 4|s, 1940, 
Worcester Cons. Street deb. 5s, 1927, 

Miscellaneous Bonds. 
Adams Express Co. 4s, 1947, 
American Telephone & Telegraph Co. 4s, 1929, 
Bing. Lt., Heat & Power Co. 1st ref. 5s, 1942, 



Book Value. 


Rate. 


Market Value. 


S913 


78 


87 


$870 00 


7,782 


50 


138 


6,900 00 


6,829 


37 


130 


6,500 00 


11,751 


11 


109 


8,720 00 


6,828 


75 


122 


6,710 00 


2,000 


00 


325 


3,250 00 


1,337 


50 


110 


1,100 00 


704 


00 


168 


672 00 


1,020 


00 


200 


2,000 00 


1,250 


00 


125 


1,250 00 


10,145 


50 


180 


10,440 00 


1,500 00 


235 


2,820 00 


11,061 


25 


152 


15,200 00 


14,129 75 


141 


16,920 00 


10,438 


00 


102 


10,200 00 


11,331 


00 


109 


10,900 00 


5,020 


50 


100 


5,000 00 


4,837 


50 


96 


4,800 00 


957 


50 


94 


940 00 


1,900 


00 


95 


1,900 00 


948 75 


94 


940 00 


1,516 


88 


99 


1,485 00 


5,013 


75 


100 


5,000 00 


4,735 


00 


92 


4,600 00 


5,180 


00 


98 


4,900 00 


4,486 


25 


86 


4,300 00 


4,312 


50 


87 


4,350 00 


4,085 


00 


100 


4,000 00 


5,387 


50 


103 


5,150 00 


1,270 


00 


109 


1,090 00 


5,617 


50 


104 


5,200 00 


5,275 


00 


104 


5,200 00 


5,325 


00 


105 


5,250 00 


7,000 


00 


84 


8,400 00 


10,090 


33 


89 


S.900 00 


1,970 


00 


99 


1,980 00 


S183.951 


47 


S1S7.837 00 



BOSTON MANUFACTURERS' MUTUAL FIRE INSURANCE COMPANY, 

BOSTON. 

Incorporated March 15, 1850. Commenced business Oct. 15, 1850. 
JOSEPH P. GRAY, President. H. DWIGHT HALL, Secretary. 

Office, 31 Milk Street. 

Income. 
Net premiums, ....... 

Gross interest on bonds, $106,044; bank deposits, $3,436.70, 



$2,217,000 48 
109,480 70 



Total income, ..... 
Ledger assets, Dec. 31, 1911, 

Total, ....... 

Disbursements. 

Net amount paid policy holders for losses, 
Salaries, fees, etc., of officers and employees, . 
Rents, ....... 



$2,326,481 18 
2,610,7S4 52 

$4,937,265 70 



$83,699 68 

46,997 75 

3,414 00 



BOSTON MANUFACTURERS MUTUAL FIRE INSURANCE CO. 



15 



Printing and stationery, ...... 

Postage, telegrams, telephone and express, 

Furniture and fixtures, ...... 

Maps, including corrections, . . . . • 

Fire department, patrol and salvage corps fees and taxes, 
Inspection department, for inspections, plans and adjustment 
of losses, ......... 

State taxes on premiums, ...... 

Insurance department licenses and fees, .... 

Other licenses, fees and taxes, ..... 

Dividends to policy holders, ...... 

Gross loss on sale of bonds, ...... 

Gross decrease in book value of bonds, .... 

Traveling expenses, ....... 

All other disbursements, ...... 

Total disbursements, ...... 

Balance, ........ 

Ledger Assets. 

Book value of bonds (Schedule A), 

Cash in office, ........ 

Deposits in trust companies and banks on interest, . 
Premiums in course of collection, ..... 



Total ledger assets, 



Non-Ledger Assets. 



Interest accrued on bonds, .... 
Gross assets, ...... 

Assets not admitted. 
Book value of bonds over market value, 

Admitted assets, ..... 

Liabilities. 
Unpaid losses, ...... 

Unearned premiums on outstanding risks, 
Salaries, expenses and accounts, due or accrued, 
Federal, state and other taxes, due or accrued, 

Total, 

Surplus to policy holders, .... 

Total liabilities, including surplus, . 



$7,542 52 


3,442 10 


933 05 


6,027 42 


263 85 


c 

40,472 58 


22,893 '58 


115 40 


42,685 50 


. 1,946,312 16 


900 00 


297 00 


2,680 30 


2,222 01 


. $2,210,898 90 


. $2,726,366 80 


. $2,649,698 10 


796 25 


23,146 35 


52,726 10 


. $2,726,366 80 


39,600 41 


. $2,765,967 21 


43,868 10 


. $2,722,099 11 


$7,459 79 


. 1,402,405 14 


1,184 45 


27,316 94 


. $1,438,366 32 


. 1,283,732 79 


. $2,722,099 11 



In force Dec. 31, 1911, 
Written during the year, 

Total, . 
Expired and terminated, 

In force at end of year, 



Risks and Premiums. 

Risks. Cash Prem's. Conting't Prem's. 

. $357,691,997 00 $2,607,389 19 $13,036,945 95 

. 317,282,609 00 2,284,845 50 11,424,227 50 



$674,974,606 00 
298,537,977 00 



$4,892,234 69 $24,461,173 45 
2,159,322 54 10,796,612 70 



$376,436,629 00 $2,732,912 15 $13,664,560 75 



16 BOSTON MANUFACTURERS' MUTUAL FIRE INSURANCE CO. 



Miscellaneous. 
Net premiums received from organization of company, . . $42,722,577 62 
Net losses paid from organization of company, . . . 5,158,016 25 

Cash dividends paid policy holders from organization of company, 33,386,462 2 1 
Losses incurred during the year, ...... 87,664 04 

Dividends to policy holders during 1912, 93 per cent. 



Schedule A. Bonds owned by the Company. 



State Bonds. 
Massachusetts 35S, 1935, . 
Massachusetts 3§s, 1938, . 
Massachusetts 3s, 1927, 
Massachusetts 3s, 1941, 
Massachusetts 3s, 1939, 
New York canal 4s, 1961, . 

Railroad Bonds 
Boston & Albany 4s, 1913, 
Boston & Albanv 3js, 1952, 
Boston Elevated 4£s, 1937, 
Boston & Lowell 4s, 1916, 
Boston & Maine 4£s, 1944, 
Boston & Maine 4s, 1926, 
Boston & New York Air Line 4s, 1955, 
Burlington & Missouri River, Neb., 6s, 1918, 
Central New England 4s, 1961, . 
Chic, Burl. & Quiney gen. 4s, 1958, 
Chicago, Milwaukee & St. Paul deb. 4s, 1934, 
Chicago, Milwaukee & St. Paul gen. 4s, 1989, 
Chicago & Northwestern gen. 4s, 1987, 
Chicago & Western Indiana cons. 4s, 1952, 
Concord & Montreal 4s, 1920, . 
Delaware & Hudson ref. 4s, 1943, 
Delaware & Hudson conv. 4s, 1916, 
Dutchess County 4|s, 1940, 
Fitchburg 3£s, 1921, 
Illinois Central col. trust 4s, 1952, 
Illinois Central refunding 4s, 1955, 
Long Island refunding 4s, 1949, 
Michigan Central (Grand River Val.) 4s, 1959, 
Michigan Central (Joliet & No. Ind.) 4s, 1957, 
Milwaukee, Sparta & Northwestern 4s, 1947, 
New York Central & Hudson Riv. deb. 4s, 1934, 
New York Cen. & H. R. (Lake Sh. col.) 3*s, 1998 
New York, New Haven & Hartford 3|s, 1947, 
New York, New Haven & Hartford 4s, 1914, 
New York, New Haven <fe Hart. conv. 6s, 1948, 
New York, New Haven & Hartford 5s, 1913, 
New York, Phila. & Norfolk 1st 4s, 1939, . 
New York, Westchester & Boston 4§s, 1946, 
Nor. Pac.-Gt, Nor. (C, B. & Q. col.) 4s, 1921, 
Old Colonv 4s, 1924, .... 

Old Colony 4s, 1938 

Pennsylvania Co. 4^s, 1921, 
Pennsylvania Co. trust certificates 4s, 1952, 
Pennsylvania Co. trust certificates 3§s, 1916, 
Pennsylvania convertible 3|s, 1915, 
Pennsylvania consolidated 4s, 1948, . 
Rome, Watertown & Ogdensburgh 5s, 1922, 
St. Paul, Minn. & Manitoba 4s, 1933, 
Terminal Association of St. Louis 4s, 1953, 
United New Jersey R.R. & Canal 4s, 1944, 
W T est End Street 4|s, 1914, 
West Shore 4s, 2361, 

Miscellaneous Bonds. 
American Telephone & Telegraph Co. 4s, 1929, 



00 
50 
50 
00 



Book Value. 
$162,970 09 
35,000 00 
32,074 00 
13,198 50 
44,215 00 
50,000 00 

50,000 00 
43,500 00 
50,000 00 
49,877 50 
50,000 00 
48,000 00 
35,000 00 
57,963 21 
27,750 00 
47,750 00 
23,750 00 
25,000 00 
39,500 00 
48,500 00 
25,000 
49,937 
29,362 
42,000 
61,350 00 
30,000 00 
50,000 00 
49,500 00 
24,375 00 
49,375 00 
37,700 00 
78,500 00 
104,100 00 
20,000 00 
68,550 00 
50,000 00 
99,625 00 
35,000 00 
48,668 75 
47,593 75 
50,000 00 
50,000 00 
29,781 25 
29,175 00 
25,357 30 
48,125 00 
29,800 00 
50,000 00 
73,406 25 
49,000 00 
50,000 00 
60,000 00 
46,000 00 

124,367 50 
$2,649,698 10 



Rate. 
94 
93 
90 
84 
85 
101 

100 
84 
96 
99 
98 
94 
97 

102 
91 
95 
91 
99 
98 
89 
98 
99 
97 

103 
94 
98 
96 
94 
96 
96 
94 
91 
79 
80 
99 

125 

100 
97 
98 
96 
98 
96 

103 
95 
98 
97 

102 

106 
98 
95 

100 

100 
98 

89 



Market Value. 
§155,100 00 
32,550 00 
31,500 00 
12,600 00 
42,500 00 
50,500 00 

50,000 00 
42,000 00 
48,000 00 
49,500 00 
49,000 00 
47,000 00 
33,950 00 
58,140 00 
27,300 00 
47,500 
22,750 
24,750 
39,200 
44,500 
24,500 
49,500 
29,100 
43,260 
61,100 
29,400 
48,000 
47.000 
24,000 00 
48,000 00 
37,600 00 
7. 00 00 
94,800 00 
16,000 00 
69,300 00 
62,500 00 
100,000 00 
33,950 00 
49,000 00 
00 00 
49,000 00 
48,000 00 
30.900 
28,500 
25 

48,500 
30,600 
53,000 00 
73,500 00 
47.500 00 
50,000 00 
60,000 00 
49,000 00 

115,700 00 
§2,605,830 00 



00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 



00 
00 
00 
00 
00 



CAMBRIDGE MUTUAL FIRE INSURANCE CO. 



17 



CAMBRIDGE MUTUAL FIRE INSURANCE COMPANY, CAMBRIDGE. 

Incorporated March 13, 1833. Commenced business Jan. 1, 1834. 
GILBERT A. A. PEVEY, President. WILLIAM E. BURRAGE, Secretary. 

Income. 

Net premiums, $23,106 47 

Gross interest on bonds, $200; bank deposits, $31.74; all other, 
$0.41; gross rents, including $900 for company's own occu- 
pancy, $9,082.61, . . . . 

Commissions on reinsurance, 

Dividends and return premiums on reinsurance, 

Total income, ..... 
Ledger assets, Dec. 31, 1911, 



Total, 



Disbursements. 



Net amount paid policy holders for losses, 

Expenses of adjustment and settlement of losses, 

Commissions or brokerage, ..... 

Salaries, fees, etc., of officers and employees, . 

Rents, for company's own occupancy, 

Advertising, printing and stationery, 

Postage, telegrams, telephone and express, 

Maps, including corrections, ..... 

Underwriters' boards and tariff associations, . 

Fire department, patrol and salvage corps fees and taxes, 

Repairs and expenses on real estate, 

Taxes on real estate, 

State taxes on premiums, 

Dividends to policy holders, 

Agents' balances charged off, 

Interest on mortgage loans, 

Reinsurance, 

All other disbursements, 

Total disbursements, 

Balance, 

Ledger Assets. 

Book value of real estate, less mortgages thereon, . 

Book value of bonds (Schedule A), 

Cash in office, ....... 

Deposits in trust companies and banks not on interest, 
Deposits in trust companies and banks on interest, . 
Agents' balances, ...... 

Total ledger assets, ..... 

Non-Ledger Assets. 
Interest accrued on bonds, ..... 
Rents due and accrued on company's property, 
Due from Guaranty Trust Company, 

Gross assets, ...... 



9,314 76 


516 32 


506 64 


$33,444 19 


48,582 04 


$82,026 23 


$15,730 67 


203 17 


4,218 50 


4,767 00 


900 00 


173 50 


308 01 


126 00 


247 13 


113 95 


2,999 82 


103 96 


235 74 


2,677 44 


62 57 


2,410 91 


602 88 


572 24 


$36,453 49 


$45,572 74 


$36,000 00 


4,980 00 


518 36 


92 44 


1,888 87 


2,093 07 


$45,572 74 


33 32 


493 32 


3 00 


$46,102 38 






18 



CITIZENS MUTUAL INSURANCE CO. 



Assets not admitted. 
Agents' balances over three months due, 
Book value of bonds over market value, 
Deposit in National City Bank, Cambridge, . 



S134 56 

110 00 

92 44 



S337 00 



Admitted assets, 



Liabilities. 



Unpaid losses, $4,048.94; less reinsurance, $447.55, 

Unearned premiums on outstanding risks, 

Interest due or accrued, . 

Dividends due policy holders, 

Salaries, expenses and accounts, due or accrued, 

Federal, state and other taxes, due or accrued, 

Total, . 

Surplus to policy holders, .... 

Total liabilities, including surplus, . 



In force Dec. 31, 1911, 
Written during the year, 

Total, . 
Expired and terminated, 

In force at end of year, 
Deduct amount reinsured, 

Net amount in force, 



Risks and Premiums. 

Risks. Cash Prem's. 

$5,852,762 00 $70,407 35 
2,401,566 00 31,729 60 



$8,254,328 00 
3,237,172 00 

$5,017,156 00 
1,048,213 00 



$102,136 95 
42,275 43 

$59,861 52 
11,309 00 



.765 38 

$3,601 39 

25,234 29 

218 75 

305 34 

282 25 

1,910 87 

$31,552 89 

14,212 49 

$45,765 38 



Conting't Prem'a 

$70,407 3i 
31,729 

$102,136 9< 
42,275 4< 

S59,861 & 



$3,968,943 00 $48,552 52 



Miscellaneous. 

Net premiums received from organization of company, . . $2,256,497 2( 

Net losses paid from organization of company, . . . 935,682 0£ 

Cash dividends paid policy holders from organization of company, 871,392 

Losses incurred during the year, ...... 19,153 56 

Dividends to policy holders during 1912, 10 and 20 per cent. 



Schedule A. 

Railroad Bonds. 
Boston & Albany 4s, 1934, 
Boston & Lowell 4s, 1918, 
Old Colony 4s, 1925, 



Bonds owned by the Company. 

Book Value. Rate. 

$990 00 95 

1,990 00 98 

2,000 00 98 



$4,980 00 



Market Value. 
S950 00 
1,960 00 
1,960 00 

S-L.^70 00 



CITIZENS' MUTUAL INSURANCE COMPANY, BOSTON. 

Incorporated March 7, 1846. Commenced business Oct. 6, 1846. 
GEO. W. HINKLEY, President. CHARLES F. BOWERS, Secretary. 

Office, 141 Milk Street. 

Income. 
Net premiums, ......... $27,729 03 

Gross interest on mortgages, SI, 51 1.54; collaterals, S143.96; 
stocks and bonds, $2,276.15; bank deposits, S63.64; gross rents, 
$1,345.24, 5,340 53 



CITIZENS MUTUAL INSURANCE CO. 



19 



Borrowed money, 
Commissions on reinsurance, 

Total income, 
Ledger assets, Dec. 31, 1911, 

Total, . 



$4,000 00 
13,734 61 

$50,804 17 
94,900 88 



Disbursements. 



Net amount paid policy holders for losses, 
Expenses of adjustment and settlement of losses, 
Commissions or brokerage,* 
Salaries, fees, etc., of officers and employees, 
Rents, ....... 

Advertising, printing and stationery, 
Postage, telegrams, telephone and express, 
Legal expenses, ...... 

Furniture and fixtures, .... 

Maps, including corrections, 

Underwriters' boards and tariff associations, . 

Fire department, patrol and salvage corps fees and taxes, 

Inspections and surveys, 

Repairs and expenses on real estate, 

Taxes on real estate, 

State taxes on premiums, 

Insurance department licenses and fees, 

Other licenses, fees and taxes, 

Dividends to policy holders, 

Gross loss on sale of real estate, 

Borrowed money repaid, 

Interest on borrowed money, 

All other disbursements, 

Total disbursements, 

Balance, .... 

Ledger Assets. 
Book value of real estate, ...... 

Mortgage loans on real estate, . . . . 

Loans secured by collateral (endowment policy, iEtna Life), 

Book value of stocks and bonds (Schedule A), 

Cash in office, ........ 

Deposits in trust companies and banks on interest, . 
Agents' balances, ....... 

Total ledger assets, ...... 

Non-Ledger Assets. 
Interest due and accrued on : — 
Mortgages, $408.29; bonds, $622.50; collateral loans, $74.16, 
Rents due and accrued on company's property, 
Due from other companies, ...... 

Equity in endowment policy taken to secure debt, . 

Gross assets, ....... 



. $145,705 05 


$12,280 37 


271 85 


12,813 87 


6,093 07 


1,119 96 


450 15 


598 66 


25 75 


47 79 


99 20 


247 34 


39 95 


368 16 


787 88 


369 27 


65 19 


132 00 


357 32 


10,384 30 


124 40 


4,000 00 


46 23 


136 95 


$50,859 66 


$94,845 39 


$11,848 05 


29,875 00 


1,481 21 


36,998 75 


666 80 


4,087 86 


9,887 72 


$94,845 39 


1,104 95 


223 00 


621 60 


748 63 


$97,543 57 



* This item has not been reduced by commissions received for reinsurance, as the amount so received 
exceeded the amount paid. See Income. 



20 



CITIZENS MUTUAL INSURANCE CO. 



Assets not admitted. 
Agents' balances over three months due, 
Book value of real estate over market value, . 
Book value of stock and bonds over market value, 



S281 66 

548 05 

1,938 75 



Admitted assets, 



Liabilities. 



Unpaid losses, SI, 053. 19; less reinsurance, $626.32, 

Unearned premiums on outstanding risks, 

Dividends due policy holders, 

Salaries, expenses and accounts, due or accrued, 

Federal, state and other taxes, due or accrued, 

Commissions and other charges due agents and brokers, 

Due for return premiums, $196.04; reinsurance, $8,002.24, 

Total, 

Surplus to policy holders, ...... 

Total liabilities, including surplus, ..... 

Risks and Premiums. 

Risks. Cash Prem's. 

In force Dec. 31, 1911, . $23,658,650 00 $267,341 97 

Written during the year, . 6,661,728 00 70,948 41 

Total, . 
Expired and terminated, 

In force at end of year, 
Deduct amount reinsured, 

Net amount in force, . $6,900,392 00 $71,520 95 

Miscellaneous. 

Net premiums received since 1855, ..... 

Net losses paid since 1855, ....... 

Cash dividends paid policy holders since 1855, 

Losses incurred during the year, ...... 

Dividends to policy holders during 1912, 10 per cent. 

Schedule A. Stocks and Bonds owned by the 



$30,320,378 00 
7,903,969 00 

$22,416,409 00 
15,516,017 00 



S232,390 93 
160,869 98 



$2,768 46 



$94,775 11 



$426 87 

35,829 84 

810 38 

74 89 

50 00 

2,312 56 

8,198 28 

$47,702 82 
47,072 29 

$94,775 11 



Conting't Prem's. 

$267,341 97 
70,948 41 






$338,290 38 S338,290 38 
105,899 45 105,899 45 



$232,390 93 






Miscellaneous Stocks. 
35 shares Massachusetts Elec. Co., pref., 

Railroad Bonds. 
Chic, Indiana & Southern 1st 4s, 1956, 
Cin., Hamilton & Dayton gen. 47S, 1939, 
Flint & Pere Marquette 6s, 1920, 
Flint & Pere Marquette (Pt, Huron Div.) 5s, 1939, 
Interboro Rapid Transit os, 1952, 
X. Y., X. H. & Hartford deb. 4s, 1947, 
X. Y., Ontario & Western notes 5s, 1915, 

Miscellaneous Bonds. 
International Paper Co. 1st 6s, 1918, . 
Southern Bell Tel. & Tel. Co. 1st 5s, 1941, 
"Westinghouse Electric & Mfg. Co. 5s, 1931, 
"Westinghouse Elec. & Mfg. Co. notes 6s, 1913, 



Book Value. 
$2,983 75 



. $2,963,688 54 

. 1,044,412 46 

. 1,446,761 43 

11,831 51 

Company. 

Rate. Market Value. 

78 730 00 



2,000 00 

2,000 00 

1,000 

5,000 

2,000 

6,000 

2,000 



00 
00 
00 
00 
00 



3,000 00 
3,000 00 
5,000 00 
3,015 00 



92 

66 
105 

97 
104 

91 
101 

103 
99 
93 

100 



1,840 00 
1.320 00 
1,050 00 
50 00 
SO 00 
5,460 00 
2,020 00 

3,090 00 
2,970 00 
4,650 00 
3,000 00 



$36,998 75 



$35,060 00 



COTTON AND WOOLEN MANUFACTURERS INSURANCE CO. 



21 



COTTON AND WOOLEN MANUFACTURERS' MUTUAL INSURANCE 
COMPANY OF NEW ENGLAND. 

Incorporated Oct. 19, 1875. Commenced business Oct. 20, 1875. 
WILLIAM B. PLUNKETT, President. BENJAMIN TAFT, Secretary. 

Office, 81 Milk Street, Boston. 

Income. 
Net premiums, 



Gross interest on bonds, $18,495; bank deposits, $1,282.74, 
Gross profit on maturity of bonds, .... 

Total income, ....... 

Ledger assets, Dec. 31, 1911, ..... 



$455,948 35 
19,777 74 
25 00 

$475,751 09 
472,460 07 



Total, $948,211 16 

Disbursements. 
Net amount paid policy holders for losses, 
Salaries, fees, etc., of officers and employees, 
Rents, ...... 

Advertising, printing and stationery, 
Postage, telegrams, telephone and express, 
Underwriters' boards and tariff associations, 
Inspection department, for inspections, maps, plans 
ment of losses, ..... 

State taxes on premiums, 

Insurance department licenses and fees, . 

Other licenses, fees and taxes, 

Dividends to policy holders, . 

All other disbursements, 



Total disbursements, 
Balance, 



Ledger Assets. 

Book value of bonds (Schedule A), 

Cash in office, ...... 

Deposits in trust companies and banks on interest, 
Premiums in course of collection, 



Non-Ledger Assets. 



Total ledger assets, 

Interest accrued on bonds, 
Gross assets, 



Assets not admitted. 
Book value of bonds over market value, 

Admitted assets, ..... 



$25,386 27 


12,539 49 


1,263 60 


1,407 13 


989 69 


. . 64 48 


and adjust- 


9,674 33 


4,933 70 


155 00 


2,027 64 


397,383 05 


1,402 76 


. $457,227 14 


. $490,984 02 


$422,678 10 


295 93 


50,780 50 


17,229 49 


. $490,984 02 


6,140 80 


$497,124 82 


12,468 10 


. $484,656 72 



22 COTTON AND WOOLEN MANUFACTURERS' INSURANCE CO. 



Liabilities. 
Unpaid losses, ...... 

Unearned premiums on outstanding risks, 
Salaries, expenses and accounts, due or accrued, 
Federal, state and other taxes, due or accrued, 

Total, . 

Surplus to policy holders, .... 

Total liabilities, including surplus, . 



In force Dec. 31, 1911, 
Written during the year, 

Total, . 
Expired and terminated, 

In force at end of year, 



Risks and Premiums. 

Risks. Cash Prem's. 

-55,542,985 00 8477,102 20 
56,536,000 00 478,518 71 



8112,078,985 00 
54,393,198 00 



S955,620 91 
464,355 28 



J. 798 51 

246,303 89 

459 17 

4,028 50 

8253,590 07 
231,066 65 

S484,656 72 



Conting't Prem's. 

S2,385,511 00 
2,392,593 55 

S4,778,104 55 
2,321,776 40 



$57,685,787 00 $491,265 63 $2,456,328 15 

Miscellaneous. 
Net premiums received from organization of company, 



Net losses paid from organization of company, 

Cash dividends paid policy holders from organization of company, 

Losses incurred during the year, ...... 

Dividends to policy holders during 1912, 90 per cent. 

Schedule A. Bonds owned by the Company. 



$9,675,901 01 

1,714,253 12 

6,696,832 52 

27,021 52 



State and Municipal Bonds. 
Fall River, Mass., 3*s, 1915, 
Massachusetts 3?s, 1933, .... 
Massachusetts 33s, 1940, .... 

Railroad Bonds. 
Atchison, Topeka & Santa Fe 4s, 1928, 
Aurora, Elgin & Chicago 5s, 1946, 
Bangor & Aroostook cons. 4s, 1951, 
Boston Elevated 4s, 1935, 
Boston & Lowell 3£s, 1919, 
Boston & Maine 4s, 1926, ... 

Boston & New York Air Line 4s, 1955, 
Central Branch 4s, 1919, . 
Chic. & Eastern Illinois equip, trust 4§s, 1914, 
Chicago, Rock Is. & Pac. 4|s, 1915, . 
El Paso & Rock Island 5s, 1951, 

Fitchburg 4s, 1927, 

Florida East Coast 4Js, 1959, . 

Lake Shore & Michigan Southern 4s, 1931, 

Maine Central 5s, 1923, .... 

Maine Central 4£s, 1916, 

Maryland, Delaware & Virginia 5s, 1955, 

Michigan Central 3£s, 1952, 

Missouri Pacific 5s, 1914, .... 

N. Y. Cen. & Hud. R. (Lake Sh. col.) 3^s, 1998, 

New York, Chicago & St. Louis 4s, 1931, 

New York, New Haven & Hartford 4s, 1955, 

New York, New Haven & Hartford 4s, 1914, 

New York, Ontario & Western 5s, 1915, 

Northern Maine Seaport 5s, 1935, 

Nor. Pac.-Gt. Nor. (C. B. & Q. col.) 4s, 1921, 

Richmond-Washington 4s, 1943, 

Rock Is., Arkan. & Louisiana 4£s, 1934, 

Worcester & Holden Street 5s, 1923, . 



Book Value. 

$15,000 00 

18,000 00 

20,675 60 

6,875 00 

4,750 00 

4,250 00 

6,000 00 

10,000 00 

9,643 75 

4,000 00 

4,712 50 

4,937 50 

3,000 00 

5,000 00 

18,000 00 

4,812 50 

14,790 00 

10,000 00 

16,000 00 

15,000 00 

1,960 00 

9,850 00 

12,000 00 

9,262 50 

20,000 00 

2,980 00 

5,000 00 

20,000 00 

25,130 00 

9,000 00 

4,693 75 

3,000 00 



Rate. 
99 
94 
93 

96 
95 
81 
90 
95 
94 
97 
92 
99 
99 

100 
97 
96 
92 

105 

100 
98 
86 

100 
79 
88 
90 
99 

101 

103 
96 
95 
88 

100 



Market Value. 

$14,850 00 
16,920 00 
20,460 00 

6,720 00 
4.750 00 
4,050 00 
5,400 00 
9,500 00 
9,400 00 
3,880 00 
4,600 00 
4,950 00 
2,970 00 
5,000 00 

17,460 00 
4,800 00 

15,640 00 

10,500 

16,000 

14.700 
1.720 

10,000 00 

11,850 00 

s,soo 00 

18,000 00 

2.970 00 

5,050 00 

20,600 00 

24.960 00 

"0 00 

4.400 00 

3,000 00 



00 
00 
00 
00 



DEDHAM MUTUAL FIRE INSURANCE CO. 



23 



Miscellaneous Bonds. 
American Tel. & Tel. Co. 4s, 1929, . 
American Writing Paper Co. 5s, 1919, 
Billings & East. Montana Power Co. 6s, 1934, 
Consumers Power Co. 5s, 1936, . 
Kansas Gas & Electric Co. 5s, 1922, . 
New England Tel. & Tel. Co. 4s, 1930, 
New England Tel. & Tel. Co. 5s, 1919, 
Western Electric Co. 5s, 1922, . 
Western Union Telegraph Co. 4|s, 1950, 



Book Value. 


Rate. 


Market Value. 


$19,875 00 


89 


$17,800 00 


5,000 00 


89 


4,450 00 


5,000 00 


101 


5,050 00 


4,850 00 


96 


4,800 00 


9,637 50 


97 


9,700 00 


28,000 00 


89 


24,920 00 


10,000 00 


100 


10,000 00 


1,992 50 


102 


2,040 00 


20,000 00 


95 


19,000 00 



$422,678 10 



£410,210 00 



DEDHAM MUTUAL FIRE INSURANCE COMPANY, DEDHAM. 

Incorporated Feb. 22, 1837. Commenced business July 1, 1837. 
JAMES Y. NOYES, President. THEODORE T. MARSH, Secretary. 

Income. 

Net premiums, $42,377 50 

Gross interest on mortgages, $1,520; stocks and bonds, $6,175.01 ; 
bank deposits, $223.95; gross rents, $180, . 8,098 96 

Total income, ..... 
Ledger assets, Dec. 31, 1911, 

Total, 

Disbursements. 

Net amount paid policy holders for losses, 
Expenses of adjustment and settlement of losses, 
Commissions or brokerage, . 
Agency expenses, .... 

Salaries, fees, etc., of officers and employees, 
Rents, ...... 

Advertising, printing and stationery, 

Postage, telegrams, telephone and express, 

Maps, including corrections, . 

Underwriters' boards and tariff associations, 

Fire department, patrol and salvage corps fees and taxes, 

Inspections and surveys, ... 

Repairs and expenses on real estate, 

Taxes on real estate, .... 

State taxes on premiums, 
Other licenses, fees and taxes, 
Dividends to policy holders, . 
Agents' balances charged off, 
All other disbursements, 

Total disbursements, 

Balance, ..... 

Ledger Assets. 

Book value of real estate, ..... 

Mortgage loans on real estate, .... 

Book value of stocks and bonds (Schedule A), 
Cash in office, ....... 

Deposits in trust companies and banks not on interest, 



$50,476 46 
182,620 03 


$233,096 49 


$9,514 89 
225 09 


6,334 96 
55 29 


4,762 33 
270 00 


672 02 


246 52 


38 10 


221 75 


71 71 


253 90 


89 10 


36 08 


403 78 


323 46 


20,762 51 


64 35 


742 30 


$45,088 14 



$188,008 35 



$1,596 86 

28,900 00 

144,744 84 

156 93 

1,478 74 



24 



DEDIIAM MUTUAL FIRE INSURANCE CO. 



Deposits in trust companies and banks on interest, 
Agents' balances, ..... 

Total ledger assets, .... 

Non-Ledger Assets. 

Interest due and accrued on : — 
Mortgages, $345.70; bonds, $1,821.17, . 
Market value of stocks and bonds over book value, 

Gross assets, ..... 

Liabilities. 
Unpaid losses, ...... 

Unearned premiums on outstanding risks, 
Dividends due policy holders, 
Salaries, expenses and accounts, due or accrued, 
Federal, state and other taxes, due or accrued, 
Due for return premiums, .... 

Total, . 

Surplus to policy holders, .... 

Total liabilities, including surplus, 



In force Dec. 31, 1911, 
Written during the year, 

Total, . 
Expired and terminated, 

In force at end of year, 



Risks and Premiums. 

Risks. Cash Prem's. 

. $8,982,622 00 $135,029 16 
2,855,724 00 43,616 93 



$8,798 71 
2,332 27 

$188,008 35 



2,166 87 
2,696 16 

S192 ; 871 38 



S630 82 
70,391 97 
658 51 
100 00 
116 25 
251 24 

$72,148 79 
120,722 59 

$192,S71 38 



Conting't Prem's 

$135,029 16 
43,616 93 



$11,838,346 00 $178,646 09 S178,646 09 
2,606,182 00 40,595 04 40,595 04 



. $9,232,164 00 $138,051 05 $138,051 05 

Miscellaneous. 

Net premiums received from organization of company, . . $1,029,783 91 

Net losses paid from organization of company, . . . 359,880 05 

Cash dividends paid policy holders from organization of company, 392,403 18 

Losses incurred during the year, . . . . . . 10,109 36 

Dividends to policy holders during 1912, 25, 50 and 70 per cent. 



Schedule A. Stocks and Bonds owned by thr Company. 



Railroad Stocks. 
50 shares Atch., Topeka & Santa Fe, common, 
78 " Atch., Topeka & Santa Fe, preferred, 
50 " Union Pacific, preferred, 
Bank Stocks. 
6 shares Dedham National, 

Miscellaneous Stocks. 
39 shares Dedham Water Co., . 
Municipal Bonds. 
Boston, Mass., 4s, 1921, .... 
Fall River, Mass., 4s, 193S, 
Lynn, Mass., 4s, 1919. .... 
New York, N. Y., 4§s, 1957, 
Salem, Mass., 4s, 1914, .... 

Railroad Bonds. 
Atch., Topeka & Santa Fe gen. 4s, 1995, 
Atch., Topeka & Santa Fe adjustment 4s, 1995, 
Boston & Albany 3£s, 1952, 
Boston & Albany 4s, 1935, 
Boston & Lowell 4s, 1932, 



Book Value. 

$5,248 75 
1,679 00 
3,000 00 

600 00 

3,900 00 

2,040 00 
5.131 25 
3,356 25 
2,060 00 
3,240 00 



6,240 

1,720 

6,197 

4,850 

10,225 



00 
00 
50 
00 
00 



Rate. 

108 

102 

92 

120 

110 

100 

99 

99 

105 

100 

97 
S8 
84 
95 
95 



Market Value. 

So. 400 00 

7,956 00 

4,600 00 

720 00 

4,290 00 

2,000 00 

4.950 00 

2,970 00 

2.100 00 

3,000 00 

7.760 00 
3,520 00 
5,040 00 
4,750 00 
10,450 00 



DORCHESTER MUTUAL FIRE INSURANCE CO. 



25 



Boston & Maine 4s, 1937, 

Boston & Maine 4s, 1926, 

Boston & Maine 4£s, 1944, 

Chic, Burl. & Quincy (111. Div.) 4s, 1949, . 

Chic, Burl. & Quincy general 4s, 1958, 

Chic, Milwaukee & St. Paul general 4s, 1989, 

Fitchburg 4s, 1915, 

New London & Northern 4s, 1940, 

New York, New Haven & Hartford 4s, 1947, 

New York, New Haven & Hartford 3§s, 1954, 

New York, New Haven & Hartford 4s, 1955, 

Old Colony 3£s, 1932, .... 

Providence Terminal 1st 4s, 1956, 

Rock Island & Frisco Terminal 1st 5s, 1927, 

St. Johnsbury & Lake Champlain 1st 5s, 1944, 

Union Pacific 4s, 1947, 

West End Street 4s, 1916, 

Miscellaneous Bonds. 
New England Telephone & Tel. Co. 5s, 1932, 



Book Value. 


Rate. 


Market Value. 


$5,560 00 


91 


$4,550 00 


1,022 72 


94 


940 00 


7,665 00 


98 


5,880 00 


7,118 75 


99 


6,930 00 


2,000 00 


95 


1,900 00 


4,987 50 


99 


4,950 00 


5,357 50 


99 


4,950 00 


4,950 00 


98 


4,900 00 


5,450 00 


91 


4,550 00 


1,950 00 


79 


1,580 00 


3,920 00 


90 


3,600 00 


5,150 00 


90 


4,500 00 


5,087 50 


96 


4,800 00 


8,400 00 


100 


8,000 00 


7,147 50 


108 


6,480 00 


3,423 12 


99 


3,465 00 


2,067 50 


98 


1,960 00 


4,000 00 


100 


4,000 00 


$144,744 84 


$147,441 00 



DORCHESTER MUTUAL FIRE INSURANCE COMPANY, 

DORCHESTER. 

Incorporated February, 1855. Commenced business July, 1855. 
WILLIAM D. C. CURTIS, President. FREDERICK W. PORTER, Secretary. 



Income. 
Net premiums, ... . 

Gross interest on mortgages, $785.55; stocks and bonds, 

$10,925; bank deposits, $73.07; gross rents, including $800 for 

company's own occupancy, $2,058, 
Agents' balances previously charged off, 
Gross profit on sale of real estate, . 
Sale of rights, .... 
Dividends on reinsurance, 
Received from railroad on account of 

building, ..... 
From all other sources, 

Total income, 
Ledger assets, Dec. 31, 1911, 



damage to company's 



Total, 



Disbursements. 



Net amount paid policy holders for losses, 
Expenses of adjustment and settlement of losses, 
Commissions or brokerage, .... 

Agency expenses, .... 

Salaries, fees, etc., of officers and employees, . 
Rents for company's own occupancy, 
Advertising, printing and stationery, 
Postage, telegrams, telephone and express, 
Legal expenses, ...... 

Maps, including corrections, .... 

Underwriters' boards and tariff* associations, . 

Fire department, patrol and salvage corps fees and taxes, 

Repairs and expenses on real estate, 

Taxes on real estate, ..... 

State taxes on premiums, .... 



$108,947 04 



13,841 62 

1 97 

200 00 

187 50 

309 79 

2,570 84 

11 83 

$126,070 59 

218,273 86 

$344,344 45 



$45,727 06 

805 92 

18,592 81 

50 63 

9,972 88 
800 00 
692 34 
805 56 
276 89 
789 23 
422 10 
195 94 
542 24 
517 67 

1,155 25 



26 



DORCHESTER MUTUAL FIRE INSURANCE CO. 



Insurance department licenses and fees, . 

Other licenses, fees and taxes, .... 

Dividends to policy holders, ..... 

Agents' balances charged off, .... 

Gross decrease in book value of real estate, 

All other disbursements, ..... 

Total disbursements, ..... 

Balance, ....... 

Ledger Assets. 
Book value of real estate, ..... 
Mortgage loans on real estate, 
Book value of stocks and bonds (Schedule A), 
Deposits in trust companies and banks not on interest, 
Deposits in trust companies and banks on interest, 
Agents' balances, ...... 

Total ledger assets, ...... 

Xon-Ledger Assets. 
Interest accrued on : — 

Mortgages, $167.32; bonds, $50, 

Rents accrued on company's property, . 
Market value of real estate over book value, . 
Market value of stocks and bonds over book value, 

Gross assets, ....... 

Assets not admitted. 
Mortgage loan and accrued interest in excess of appraisal, 

Admitted assets, ....... 

Liabilities. 
Unpaid losses, ...... 

Unearned premiums on outstanding risks, 

Dividends due policy holders, 

Salaries, expenses and accounts, due or accrued, 

Federal, state and other taxes, due or accrued, 

Due for return premiums, $488.95; reinsurance, $585.07, 

Total, . 

Surplus to policy holders, ..... 



Total liabilities, including surplus, . 

Risks axd Premiums. 

Risks. 

In force Dec. 31, 1911, . 827,793,623 00 



$270 00 


449 18 


47,145 38 
21 44 


6,570 84 
1,086 27 


$136,889 63 


-07,454 82 


.717 29 

17,950 00 

154,397 56 

382 99 


811 31 


9,195 67 


$207,454 82 


217 32 


2 5 00 


682 71 


67,342 44 


$275,922 29 


473 06 


$275,449 23 


$8,394 27 

168,617 36 

3,364 06 

173 15 


2,357 52 


1,074 02 



Written during the year, 

Total, . 
Expired and terminated, 

In force at end of year, 
Deduct amount reinsured, 

Xet amount in force, 



8,779,787 00 

$36,573,410 00 

10,009,848 00 

S26,563,562 00 

889,142 00 



Cash Prem's. 

$399,498 19 

119,981 87 

$519,480 06 

157,699 38 

$361,780 68 

12.1S5 52 



Sls3,980 38 
91,468 85 

$275,449 23 



Conting't Prem's. 

$399,498 19 
119,981 S7 

$519,480 06 
157,699 38 

$361,780 68 



$25,674,420 00 $349,595 16 



FALL RIVER MANUFACTURERS MUTUAL INSURANCE CO. 



27 



Miscellaneous. 
Net premiums received from organization of company, . . $5,205,013 14 

Net losses paid from organization of company, . . . 2,507,876 48 

Cash dividends paid policy holders from organization of company, 1,832,610 05 
Losses incurred during the year, ...... 52,596 28 

Dividends to policy holders during 1912, 20, 25, 30, 35 and 40 per cent. 



Schedule A. Stocks and Bonds owned by the 



Railroad Stocks. 
100 shares Boston & Maine, 
75 " Great Northern, preferred, 
100 " N. Y., New Haven & Hartford, . 
200 " Pennsylvania, . 

Bank Stocks. 
305 shares International Trust Co., Boston, 

Miscellaneous Stocks. 
300 shares American Tel. & Tel. Co., . 

Miscellaneous Bonds. 
United Lead Co. 5s, 1943, 



Book Value. 
$13,606 07 
10,509 38 
15,512 50 
13,787 50 

55,688 06 

38,997 50 

6,296 55 
$154,397 56 



Company. 

Rate. Market Value. 

98 $9,800 00 

130 9,750 00 

128 12,800 00 

122 12,200 00 



438 

141 

65 



133,590 00 

42,300 00 

1,300 00 

$221,740 00 



FALL RIVER MANUFACTURERS' MUTUAL INSURANCE COMPANY, 

FALL RIVER. 

Incorporated Feb. 11, 1870. Commenced business May 1, 1870. 
CHAS. S. WARING, President. JAMES W. BRIGHAM, Secretary. 

Income. 

Net premiums, $609,942 69 

Gross interest on bonds, $33,320.37; bank deposits, $1,203.90, . 34,524 27 

Gross profit on maturity of bonds, ..... 17 50 

Total income, ....... 

Ledger assets, Dec. 31, 1911, ..... 



Total, 



Disbursements. 



Net amount paid policy holders for losses, 
Salaries, fees, etc., of officers and employees, 
Rents, ...... 

Advertising, printing and stationery, 
Postage, telegrams, telephone and express, 
Furniture and fixtures, 
Fire department, patrol and salvage corps fees and taxes, . 
Inspection department, for inspections, maps, plans and adjust 
ment of losses, ........ 

State taxes on premiums, ...... 

Insurance department licenses and fees, .... 

Other licenses, fees and taxes, ..... 

Dividends to policy holders, ..... 

Gross decrease in book value of bonds, .... 

All other disbursements, ...... 

Total disbursements, ...... 

Balance, ........ 



$644,484 46 


847,919 81 


. $1,492,404 27 


$29,605 73 


11,264 73 


912 00 


597 93 


639 44 


181 60 


27 35 


13,966 92 


6,336 92 


80 00 


3,151 84 


547,122 40 


1,804 75 


267 94 


$615,959 55 


$876,444 72 



28 FALL RIVER MANUFACTURERS' MUTUAL INSURANCE CO. 



Ledger Assets. 

Book value of bonds (Schedule A), §838,447 00 

Cash in office, 66 94 

Deposits in trust companies and banks on interest, . . 19,553 44 

Premiums in course of collection, ...... 18,377 34 



Total ledger assets, $876,444 72 

Non-Ledger Assets. 
Interest accrued on : — 
Bonds, $11,060.40; other assets, $66.41, .... 11,126 81 



Gross assets, $887,571 53 

Assets not admitted. 
Book value of bonds over market value, .... 8,997 00 



Admitted assets, $878,574 53 

Liabilities. 

Unpaid losses, $4,419 89 

Unearned premiums on outstanding risks, .... 420,619 98 

Federal, state and other taxes, due or accrued, . . . 7,600 67 



Total, $432,640 54 

Surplus to policy holders, ....... 445,933 99 



Total liabilities, including surplus, . • . . . . $878,574 53 

Risks and Premiums. 

Risks. Cash Prem's. Conting't Prem's. 

In force Dec. 31, 1911, . $107,437,508 00 $799,647 63 $3,998,238 15 

Written during the year, . 86,609,672 00 634,048 27 3,170,24135 



Total, .... $194,047,180 00 $1,433,695 90 $7,168,479 50 
Expired and terminated, . 81,601,251 00 600,488 99 3,002,444 95 



In force at end of year, . $112,445,929 00 $833,206 91 $4,166,034 55 

Miscellaneous. 

Net premiums received from organization of company, . . $12,414,275 94 
Net losses paid from organization of company, . . . 1,520,500 93 

Cash dividends paid policy holders from organization of company, 9,814,012 34 
Losses incurred during the year, ...... 32,475 80 

Dividends to policy holders during 1912, 95 per cent. 

Schedule A. Bonds owned by the Company. 



Municipal Bonds. 


Book Value. 


Rate. 


Market Value. 


Boston, Mass., 4s, 1913, .... 


$40,000 00 


100 


$40,000 00 


Cleveland, O., 4s, 1923, .... 


25,000 00 


102 


25,500 00 


Newport, R. I., 4s, 1923, .... 


20,000 00 


100 


20,000 00 


Taunton, Mass., 4s, 1922, 


15,000 00 


100 


15,000 00 


Railroad Bonds. 








Atch., Topeka & Santa F6 gen. 4s, 1995, 


19,897 50 


97 


19,400 00 


Baltimore & Ohio notes, 4§s, 1913, 


14,765 63 


100 


15,000 00 



FITCHBURG MUTUAL FIRE INSURANCE CO. 



29 



Boston Elevated 5s, 1942, 

Boston & Maine 4s, 1942, 

Boston & Providence 4s, 1918, . 

Canada Southern (extended) 6s, 1913, 

Chicago, Burl. & Quincy (Neb. Ext.) 4s, 1927, 

Chicago, Milwaukee & St. Paul deb. 4s, 1934, 

Chicago, Milwaukee & St. Paul conv. 4js, 1932, 

Concord & Montreal 1st 4s, 1920, 

Erie (Pennsylvania collateral) 4s, 1951, 

Lake Shore & Michigan Southern 4s, 1928, 

Lake Shore & Michigan Southern 4s, 1931, 

Long Island refunding 4s, 1949, 

Milwaukee, Sparta & Northwestern 4s, 1947, 

New York Central & Hudson River deb. 4s, 1934, 

N. Y. Cent. & Hud. R. (Lake Sh. col.) 3£s, 1998, 

N. Y. Cent. & Hud. R. notes, 4£s, 1914, . 

N. Y., N. H. & Hartford deb. 4s, 1956, 

Nor. Pac.-Gt. Nor. (C, B. & Q.) col. 4s, 1921, 

Old Colony 4s, 1938, .... 

Oregon- Wash. R.R. & Navigation Co. 4s, 1961, 

Pennsylvania convertible -3|s, 1915, 

Phila., Wilmington & Baltimore 4s, 1932, . 

Pittsburg, Bess. & Lake Erie 1st 5s, 1947, . 

Union Pacific 1st Ry. and land grant 4s, 1947, 

West End Street 4$s, 1914, 

West End Street 4s, 1915, 

West End Street 4s, 1917, 

Miscellaneous Bonds. 
American Telephone & Telegraph Co. 4s, 1929, 
New York Telephone Co. gen. 4£s, 1939, . 



Book Value. 

$25,000 00 

10,000 00 

20,000 00 

5,000 00 
15,000 00 
47,131 25 
15,000 00 
15,000 00 

9,000 00 
29,850 00 
22,813 95 
29,525 00 
14,122 50 
47,931 50 
12,243 75 

9,993 75 
36,000 00 
44,058 17 
30,000 00 

9,325 00 
65,630 25 
19,800 00 
20,000 00 
20,000 00 
35,000 00 
20,000 00 
14,906 25 

46,771 25 
14,681 25 

$838,447 00 



Rate. 

103 
90 
99 

100 
97 
91 

105 
98 
89 
92 
92 
94 
94 
91 
79 

100 
90 
96 
96 
91 
97 
99 

111 
99 

100 
99 
98 

89 
97 



Market Value. 
$25,750 00 

9,000 00 
19,800 00 

5,000 00 
14,550 00 
45,500 00 
15,750 00 
14,700 00 

8,900 00 
27,000 00 
23,000 00 
28,200 00 
14,100 00 
45,500 00 
11,850 00 
10,000 00 
36,000 00 
43,200 00 
28,800 00 

9,100 00 
67,900 00 
19,800 00 
22,200 00 
19,800 00 
35,000 00 
19,800 00 
14,700 00 

44,500 00 
14,550 00 

$829,450 00 



FITCHBURG MUTUAL FIRE INSURANCE COMPANY, FITCHBURG. 

Incorporated March 23, 1847. Commenced business Sept. 1, 1847. 
LINCOLN R. WELCH, President. CHESTER A. CLEGG, Secretary. 

Income. 

Net premiums, $174,955 90 

Gross interest on mortgages, $874.42; stocks and bonds, 
$6,993.46; bank deposits, $350.14; gross rents, including 

$1,475 for company's own occupancy, $5,578.30, . . . 13,796 32 

Agents' balances previously charged off, ... 85 07 

Total income, $188,837 29 

Ledger assets, Dec. 31, 1911, 244,791 48 

Total, $433,628 77 

Disbursements. 

Net amount paid policy holders for losses, ... . . $58,737 26 

Expenses of adjustment and settlement of losses, . . . 1,046 31 

Commissions or brokerage, . . . . . . . 18,728 59 

Agency expenses, 166 53 

Salaries and expenses of special and general agents, . . 4,106 30 

Salaries, fees, etc., of officers and employees, . . . . 12,712 76 

Rents, for company's own occupancy, 1,475 00 

Advertising, printing and stationery, 3,027 18 

Postage, telegrams, telephone and express, . . . . 1,311 37 

Furniture and fixtures, 980 91 



30 



FITCHBURG MUTUAL FIRE INSURANCE CO. 



Maps, including corrections, . 

Underwriters' boards and tariff associations, 

Fire department, patrol and salvage corps fees and taxes, 

Inspections and surveys, 

Repairs and expenses on real estate, 

Taxes on real estate, .... 

State taxes on premiums, 

Insurance department licenses and fees, 

Other licenses, fees and taxes, 

Dividends to policy holders, . 

Agents' balances charged off, 

Borrowed money repaid, 

Interest on borrowed money, 

All other disbursements, 

Total disbursements, 

Balance, ..... 



Ledger Assets. 

Book value of real estate, .... 

Mortgage loans on real estate, 

Book value of stocks and bonds (Schedule A), 

Cash in office, ...... 

Deposits in trust companies and banks on interest, 
Agents' balances, ..... 



Total ledger assets, ....... 

Non-Ledger Assets. 

Interest accrued on: — 

Mortgages, $115.83; bonds, $1,297.61, 

Rents due on company's property, ..... 

Market value of stocks and bonds over book value, 

Gross assets,* ........ 

Liabilities. 

Unpaid losses, including $1,500 resisted, $7,999.94; less reinsur- 
ance, $49.37, 

Unearned premiums on outstanding risks, .... 

Dividends due policy holders, ...... 

Salaries, expenses and accounts, due or accrued, 

Federal, state and other taxes, due or accrued, 

Due for reinsurance, ........ 

Total, 

Surplus to policy holders, ....... 

Total liabilities, including surplus, ..... 



$1,088 68 
439 


115 


35 


7,655 

2,700 


25 

14 


922 


71 


2,160 66 
1,980 73 
1,121 48 


41,421 


39 


78 


55 


5,000 00 
125 97 


519 


62 



$167,622 11 



$266,006 66 


$60,000 00 


7,480 00 


172,163 34 


97 40 


11,017 69 


15,248 23 


$266,006 66 


1,413 44 


536 00 


6,476 66 


$274,432 76 


$7,950 57 


174.735 97 


2,642 07 


429 66 


1,652 72 


569 15 



$187,980 14 
86^52 62 

8274.432 76 



* These assets include deposits in this country amounting to $10,550, which the company has made 
for the protection of certain policy holders. Liabilities of $1,235.43 have accrued against these deposits, 
which are included in the total liabilities of the company. The excess of these deposits over corresponding 
liabilities is $9,314.57, which is included in the surplus and is subject to a lien under the conditions of the 
special deposit, which, in certain contingencies, would, it should be noted, remove said excess from the 
funds available to pay the claims of general policy holders. 



FITCHBURG MUTUAL FIRE INSURANCE CO. 



31 



In force Dec. 31, 1911, 
Written during the year, 

Total, . 
Expired and terminated, 

In force at end of year, 
Deduct amount reinsured, 

Net amount in force, 



Risks and Premiums. 

Risks. Cash Prem's. 

$25,219,647 00 $340,636 95 
13,561,393 00 195,534 10 



Conting't Prem's. 

$340,636 95 
195,534 10 



$38,781,040 00 $536,171 05 $536,171 05 
11,861,886 00 171,949 24 171,949 24 



$26,919,154 00 $364,221 81 $364,221 81 
1,109,890 00 13,127 95 



$25,809,264 00 $351,093 86 



Miscellaneous. 
Net premiums received from organization of company, . . $5,276,599 31 
Net losses paid from organization of company, . . . 2,472,832 64 

Cash dividends paid policy holders from organization of company, 1,521,448 52 
Losses incurred during the year, ...... 65,133 77 

Dividends to policy holders during 1912, 20-25, 30 and 40 per cent. 

Schedule A. Stocks and Bonds owned by the Company. 

Railroad Stocks. 
20 shares Boston & Maine, 

70 " Fitchburg 

50 " New York, New Haven & Hartford, 
110 " Pennsylvania, .... 
Bank Stocks. 
10 shares Fitchburg National, . 
20 " Fitchburg Safe Dep. & Trust Co., 
15 " Springfield Safe Dep. & Trust Co., 
Miscellaneous Stocks. 
120 shares American Telephone & Telegraph, 
55 " New England Tel. & Tel. Co. 
100 " Pullman Co., . 

State and Municipal Bonds. 
Cordele, Ga., 5s, 1932, 
Fitchburg, Mass., 4s, 1922-23, 
Hartford, Conn., 3|s, 1954, 
Holyoke, Mass., 4s, 1927, . 
Lincoln, Mass., 3§s, 1932, 
Maiden, Mass., 4s, 1924, . 
Marietta, Ga., 5s, 1939, 
Massachusetts 3£s, 1935, . 
New Haven, Conn., 4s, 1934, 
Pawtucket, R. I., 4s, 1944, 
Schenectady, N. Y., 4s, 1928, 
Stamford, Conn., 4s, 1934-38, 
Syracuse, N. Y., 4§s, 1916, 
Taunton, Mass., 4s, 1936, 
Waltham, Mass., 3|s, 1919, 
Willimantic, Conn., 4s, 1934, 
Woonsocket, R. I., 4s, 1935, 

Railroad Bonds. 
Boston & Albany 4s, 1934, 
Boston Elevated 4s, 1935, 
Fitchburg 4s, 1925, . 
Fitchburg & Leominster Street 5s, 1917, 
Lake Shore & Michigan Southern 4s, 1931, 
New York, New Haven & Hartford 5s, 1913, 
West End Street 4§s, 1914, 

Miscellaneous Bonds. 
United Fruit Co. 4£s, 1923, 



Book Value. 


Rate. 


Market Value. 


$3,155 


00 


98 


$1,960 00 


7,930 


00 


121 


8,470 00 


7,340 


50 


128 


6,440 00 


6,740 


62 


122 


6,710 00 


1,000 


00 


173 


1,730 00 


3,000 


00 


148 


2,960 00 


1,500 


00 


228 


3,420 00 


13,664 


92 


141 


16,920 00 


6,955 


95 


156 


8,580 00 


14,078 50 


165 


16,500 00 


5,420 


00 


105 


5,250 00 


5,088 


60 


100 


5,000 00 


933 


75 


90 


900 00 


5,056 


25 


99 


4,950 00 


2,820 


00 


93 


2,790 00 


5,017 


50 


99 


4,950 00 


5,550 


00 


106 


5,300 00 


4,887 


50 


94 


4,700 00 


3,060 


00 


99 


2,970 00 


4,917 


50 


97 


4,850 00 


5,000 


00 


98 


4,900 00 


6,055 


50 


98 


5,880 00 


5,095 


00 


101 


5,050 00 


5,075 


00 


100 


5,000 00 


2,917 


50 


96 


2,880 00 


3,000 


00 


99 


2,970 00 


1,005 


00 


97 


970 00 


4,850 


00 


95 


4,750 00 


4,936 


25 


90 


4,500 00 


2,000 


00 


97 


1,940 00 


5,000 


00 


102 


5,100 00 


4,350 


00 


92 


4,600 00 


4,975 


00 


100 


5,000 00 


5,012 


50 


100 


5,000 00 


4,775 


00 


95 


4,750 00 


$172,163 34 


$178,640 00 



32 



GRAIN DEALERS MUTUAL FIRE INSURANCE CO. 



GRAIN DEALERS MUTUAL FIRE INSURANCE COMPANY, 

BOSTON. 

Incorporated Feb. 27, 1907. Commenced business July 10, 1907. 
DEAN K. WEBSTER, President. A. SHIRLEY LADD, Secretary. 

Office, Chamber of Commerce Building. 

Income. 

Net premiums, 



bank deposits, $104.08; all 



Gross interest on bonds, $2,407.14 

other, $0.50, 
Gross profit on sale of bonds, 
Commission on reinsurance, . 
Dividends on reinsurance, 
Advance premiums, 

Total income, 
Ledger assets, Dec. 31, 1911, 



Total, 

Disbursements. 

Net amount paid policy holders for losses, 
Expenses of adjustment and settlement of losses, 
Commissions or brokerage, . 
Salaries, fees, etc., of officers and employees, 
Rents, ...... 

Advertising, printing and stationery, 

Postage, telegrams, telephone and express, 

Furniture and fixtures, 

Fire department, patrol and salvage corps fees and taxes, 

Inspections and surveys, 

State taxes on premiums, 

Dividends to policy holders, . 

Premiums of 1912 paid in 1911, 

All other disbursements, 

Total disbursements, 

Balance, ..... 

Ledger Assets. 

Book value of bonds (Schedule A), 

Cash in office, ...... 

Deposits in trust companies and banks on interest, 
Premiums in course of collection, . 



Total ledger assets, 

Interest accrued on bonds, 
Gross assets, 



Non-Ledger Assets. 



872 37 

2,511 72 

77 10 

3,381 85 

3,998 60 

715 02 

$87,556 66 

51,569 57 



$139,126 23 


$17,009 67 
114 41 


472 25 


13,500 92 
1,201 51 
3,584 11 
3,499 24 
1,076 20 
34 49 


1,503 57 
695 30 


16,491 13 
754 81 


521 66 


$60,450 _: 


$78,666 96 


$72,630 25 


1.406 25 


920 33 


3,710 13 


$78,666 96 


1,253 60 

1 


$79,920 56 



GRAIN DEALERS MUTUAL FIRE INSURANCE CO. 



33 



Assets not admitted. 
Book value of bonds over market value, 



$1,090 25 



Admitted assets, . 


. 


. 


$78,830 31 


Unpaid losses, 

Unearned premiums on outstai 
Dividends due policy holders, 
Salaries, expenses and account; 
Federal, state and other taxes, 
Due for return premiums, $61. 
Advance premiums, 


Liabilities. 

iding risks, .... 

3, due or accrued, 

due or accrued, 

33 reinsurance, $1,161.06, . 


$1,226 86 

37,707 24 

505 24 

66 66 

203 92 

1,222 39 

715 02 


Total, . . 
Surplus to policy holders, 


$41,647 33 
37,182 98 


Total liabilities, including 


surplus, . 


. 


$78,830 31 


Risks and Premiums 






In force Dec. 31, 1911, 
Written during the year, 


Risks. 

$3,287,682 00 
5,366,191 00 


Cash Prem's. 

$64,532 19 
104,475 46 


Conting't Prem's. 

$64,532 19 
104,475 46 


Total, .... 
Expired and terminated, ' 


$8,653,873 00 
3,738,055 00 


$169,007 65 
70,675 97 


$169,007 65 
70,675 97 


In force at end of year, 
Deduct amount reinsured, 


$4,915,818 00 
1,166,904 00 


$98,331 68 
22,917 19 


$98,331 68 



Net amount in force, 



$75,414 49 



$3,748,914 00 

Miscellaneous. 
Net premiums received from organization of company, 
Net losses paid from organization of company, 
Cash dividends paid policy holders from organization of company, 
Losses incurred during the year, ...... 

Dividends to policy holders during 1912, 25 per cent. 



Schedule A. Bonds owned 

Municipal Bonds. 
Waltham, Mass., 4fs, 1916, 

Railroad Bonds. 
Boston & Albany 4s, 1934, 
Boston & Maine 3|s, 1921, 
Boston & Maine 4§s, 1929, 
Boston & Northern Street 1st 4s, 1954, 
Lake Shore & Michigan Southern 4s, 1931, 
Milwaukee Elec. Ry. and Light 5s, 1951, 
N. Y., N. H. & Hartford deb. 4s, 1955-56, . 
St. Louis, Springfield & Peoria 1st 5s, 1939, 
West End Street 4s, 1917, 
West End Street 4hs, 1930, 

Miscellaneous Bonds. 
Adirondack Elec. Power Coro. 1st 5s, 1962, 
American Agricultural Chem. Co. 1st 5s, 1928, 
American Tel. & Tel. Co. 4s, 1929, 
Consumers Power Co., Mich., 1st 5s, 1936, 
Detroit Edison Co. 5s, 1933, 
Indiana Steel Co. 1st 5s, 1952, . 



by the Company. 

Book Value. Rate. 

$1,040 00 101 



$244,742 28 
62,036 84 
42,819 78 
18,210 53 



Market Value. 
$1,010 00 



2,040 00 

1,857 50 

3,155 00 

2,730 

1,795 

2,925 

2,840 

1,940 

1,995 

2,040 



00 
00 
00 
00 
00 
00 
00 



4,000 
6,131 
7,360 
1,960 
3,000 
3,037 



00 
25 
00 
00 
00 
50 



95 
92 
99 
90 
92 
96 
90 
97 
98 
101 

99 

101 

89 

96 

102 

101 



1,900 
1,840 
2,970 
2,700 
1,840 
2,880 
2,700 
1,940 
1,960 
2,020 

3,960 
6,060 
7,120 
1,920 
3,060 
3,030 



00 
00 
00 
00 
00 
00 
00 
00 
00 
00 

00 
00 
00 
00 
00 
00 



34 



GROVELAND MUTUAL FIRE INSURANCE CO. 



Massachusetts Gas Co. 4?s, 1929, 
Minneapolis Gas Light Co. 5s, 1930, . 
New England Tel. & Tel. Co. 5s, 1915, 
Portland General Electric Co. 1st 5s, 1935, 
Southern Power Co. 1st 5s, 1930, 
United Electric Securities Co. 5s, 1942, 
United Fruit Co. 4 is, 1925, 



Book Value. 


Rate. 


Market Value. 


$2,002 50 


<<>> 


$1,960 00 


2,029 00 


100 


2.000 00 


1,010 00 


100 


1,000 00 


3,000 00 


102 


3,060 00 


4,000 00 


99 


3,960 00 


4,000 00 


100 


4,000 00 


6,742 50 


95 


6,650 00 


$72,630 25 


$71,540 00 



GROVELAND MUTUAL FIRE INSURANCE COMPANY, GROVELAND 

Incorporated March 8, 1828. Commenced business March 28, 1828. 

WILLIAM T. PIKE, President. LOUIS A. WOODBURY, Secretary. 

[Note. — This company relies upon assessments on deposit notes to pay losses and expenses.] 

Income. 

Assessments, ......... S606 16 

Policy fees, 290 50 

Borrowed money, ........ 4,300 00 






Total income, ...... 

Ledger assets, Dec. 31, 1911, .... 

Total, 

Disbursements. 
Net amount paid policy holders for losses, 
Expenses of adjustment and settlement of losses, 
Salaries, fees, etc., of officers and employees, . 
Rents, ........ 

Advertising, printing and stationery, 

Postage, telegrams, telephone and express, 

Legal expenses, ....... 

State taxes on assessments, ..... 

Interest on borrowed money, .... 

All other disbursements, ..... 

Total disbursements, ..... 

Balance, ....... 

Ledger Assets. 
Cash in office, ....... 

Deposits in trust companies and banks not on interest, 

Total ledger assets, ..... 

Non-Ledger Assets. 

Supplies, printed matter and stationery, 

Furniture, fixtures and safes, .... 

Gross assets, ...... 

Assets not admitted. 

Supplies, printed matter and stationery, 

Furniture, fixtures and safes, .... 



S5,196 66 
175 79 

$5,372 45 



83,652 


55 


33 


04 


806 58 


50 00 


88 34 


55 


15 


179 


90 


54 


33 


153 


00 


52 


50 


$5,125 39 


$247 


06 


$89 27 


157 


79 



S70 00 
290 00 



$247 06 



70 00 
290 00 



$607 06 



360 00 



Admitted assets, 



$247 06 



HAMPSHIRE MUTUAL FIRE INSURANCE CO. 



35 



Liabilities. 
Unpaid losses, ...... 

Salaries, expenses and accounts, due or accrued, 
Borrowed money, ..... 



$300 00 

221 00 

4,300 00 



Total liabilities, 



In force Dec. 31, 1911, 
Written during the year, 

Total, . 
Expired and terminated, 

In force at end of year, 



Risks and Premiums. 

Risks. 

. $1,899,648 00 
384,910 00 



$2,284,558 00 
431,235 00 



$4,821 00 

Conting't Prem's. 

$156,794 58 
31,625 85 

$188,420 43 
34,823 11 



$1,853,323 00 $153,597 32 



Miscellaneous. 

Net assessments received since 1849, ..... 

Net losses paid since 1850, ....... 

Losses incurred during the year, ...... 

Assessments laid during the year on deposit notes or contingent 
premiums, ......... 



.11,231 42 

78,085 00 

3,952 55 

606 16 



HAMPSHIRE MUTUAL FIRE INSURANCE COMPANY, 

NORTHAMPTON. 

Incorporated March 6, 1830. Commenced business July 1, 1832.. 
CHARLES N. CLARK, President. OLIVER WALKER, Secretary. 

Income. 

Net premiums, ... $18,099 48 

Gross interest on mortgages, $718.40; stocks and bonds, $1,755; 
bank deposits, $117. 52; all other, $4.01 2,594 93 



Total income, ....... 


$20,694 41 


Ledger assets, Dec. 31, 1911, ..... 


51,410 20 


Total, 


$72,104 61 


Disbursements. 




Net amount paid policy holders for losses, 


$12,464 98 


Expenses of adjustment and settlement of losses, 


106 53 


Commissions or brokerage, ...... 


2,349 67 


Salaries, fees, etc., of officers and employees, . 


2,042 00 


Rents, . . . . . . . . 


125 00 


Advertising, printing and stationery, .... 


104 90 


Postage, telegrams, telephone and express, 


73 72 


Underwriters' boards and tariff associations, . 


193 41 


State taxes on premiums, ...... 


183 07 


Other licenses, fees and taxes, ..... 


30 03 


Dividends to policy holders, ...... 


6,428 45 


All other disbursements, ..... 


94 62 


Total disbursements, ...... 


$24,196 38 


Balance, ........ 


$47,908 23 



36 



HAMPSHIRE MUTUAL FIRE INSURANCE CO. 



Ledger Assets. 

Mortgage loans on real estate, 

Book value of stocks and bonds (Schedule A), 

Cash in office, ...... 

Deposits in trust companies and banks on interest, 
Agents' balances, ..... 

Total ledger assets, .... 



Non-Ledger Assets 

Interest accrued on : — 
Mortgages, $220.17; bonds, $274; other assets, $25.65. 
Market value of stocks and bonds over book value, 
Furniture, fixtures and supplies, 



Gross assets, ..... 

Assets not admitted. 
Supplies, printed matter and stationery, 
Furniture, fixtures and safes, 
Agents' balances over three months due, 

Admitted assets, ..... 

Liabilities. 

Unpaid losses, ...... 

Unearned premiums on outstanding risks, 
Dividends due policy holders, 
Salaries, expenses and accounts, due or accrued, 
Federal, state and other taxes, due or accrued, 

Total, 

Surplus to policy holders, .... 

Total liabilities, including surplus, . 








$13,850 00 




29,951 45 




125 04 




3,076 89 




904 85 


• 


$47,908 23 


5, . 


519 82 




9,838 55 




600 00 


• 


158,866 60 


S100 00 




500 00 




90 86 


690 86 


. 


858,175 74 




81,703 50 


■ • ■ 


31.272 98 


i • • 


385 63 




10 02 




47 24 



In force Dec. 31, 1911, 
Written during the year, 

Total, . 
Expired and terminated, 

In force at end of year, 



Risks and Premiums. 

Risks. 

. $4,037,770 00 
1,209,401 00 



Cash Prem's. 

861,576 90 
18,602 06 



$5,247,171 00 
1,171,175 00 

$4,075,996 00 



$80,178 96 
18,286 69 



$33,419 37 
24.756 37 

858,175 74 



Conting't Prem's. 

861,576 90 
18,602 06 

178 96 
18,286 69 



861,892 27 $61,892 21 



Miscellaneous. 

Net losses paid from organization of company, ... \.527 10 

Losses incurred during the year, ...... 11,764 10 

Dividends to policy holders during 1912, 20, 40-30 and 50 per cent. 



Schedule A. Stocks and Bonds owned by the Company. 

Railroad Stocks. Book Value. Rate. Market Valofl 

63 shares Connecticut River, ... . $6,650 00 250 §15,750 00 

30 " Pennsylvania, 1,853 75 122 1,830 00 



HINGHAM MUTUAL FIRE INSURANCE CO. 



37 



Bank Stocks. 
10 shares Northampton National, 

Miscellaneous Stocks. 
10 shares United States Steel Corp., pref., . 

Railroad Bonds. 
N. Y., N. H. & Hartford conv. 6s, 1948, . 
Nor. Pac.-Gt. Nor. (C, B. & Q. col.) 4s, 1921, 
Union Pacific (Oregon Short Line) 4s, 1929, 
West End Street 4s, 1932, 

Miscellaneous Bonds. 
American Telephone & Tel. Co. 4s, 1929, 
Massachusetts Gas Co. 4£s, 1929, 
Pacific Telephone & Tel. Co. 1st 5s, 1937, 
United States Envelope Co. 5s, 1919, 
United States Steel Corporation 5s, 1963, 



Book Value. 
$1,100 00 

1,192 50 

3,360 00 
6,000 00 
1,890 00 
1,062 50 

1,857 50 

977 50 

977 50 

975 20 

2,055 00 

829,951 45 



Rate. 
200 

110 

125 
96 
92 
94 

89 

98 

100 

102 

102 



Market Value. 

$2,000 00 

1,100 00 

3,750 00 

5,760 00 

1,840 00 

940 00 



1,780 
980 
1,000 
1,020 
2,040 



00 
00 
00 
00 
00 



$39,790 00 



HINGHAM MUTUAL FIRE INSURANCE COMPANY, HINGHAM. 

Incorporated March 4, 1826. Commenced business Sept. 1, 1826. 
HENRY W. CUSHING, President. ALAN F. HERSEY, Secretary. 

Income. 

Net premiums, .... .... 

Gross interest on mortgages, $1,101.17; stocks and bonds, 
$9,932.06; bank deposits, $550.33; gross rents, for company's 
own occupancy, $700, ...... 

Gross profits on sale of bonds, ...... 

Dividends and return premiums on reinsurance, 

Total income, ........ 

Ledger assets, Dec. 31, 1911, ...... 



Total, 



Disbursements. 



Net amount paid policy holders for losses, 
Expenses of adjustment and settlement of losses, 
Commissions or brokerage, ..... 

Agency expenses, ...... 

Salaries, fees, etc., of officers and employees, . 
Rents, for company's own occupancy, 
Advertising, printing and stationery, 
Postage, telegrams, telephone and express, 
Maps, including corrections, ..... 

Underwriters' boards and tariff associations, . 

Fire department, patrol and salvage corps fees and taxes, 

Inspections and surveys, ..... 

Taxes, repairs and expenses on real estate, 

State taxes on premiums, ..... 

Other licenses, fees and taxes, .... 

Dividends to policy holders, ..... 

Gross loss on sale of bonds, ..... 

All other disbursements, ..... 

Total disbursements, ..... 

Balance, . . . . 



$90,144 15 



12,283 56 
41 60 
91 05 



$102,560 36 
282,564 63 


$385,124 99 


$41,925 12 
919 08 


13,101 86 
141 07 


8,135 00 
700 00 


773 30 


426 73 


26 00 


154 88 


19 61 


1,519 57 

94 87 


941 01 


472 52 


37,977 50 

3,552 50 

756 06 


$111,636 68 



$273,488 31 



38 



HINGIIAM MUTUAL FIRE INSURANCE CO. 



Ledger Assets. 
Book value of real estate, .... 

Mortgage loans on real estate, 

Book value of stocks and bonds (Schedule A), 

Cash in office, ...... 

Deposits in trust companies and banks on interest, 
Agents' balances, ..... 

Total ledger assets, ...... 

Non-Ledger Assets. 
Interest accrued on : — 
Mortgages, $225.06; bonds, $2,526.45; other assets, $154.64, 

Gross assets, ....... 

Assets not admitted. 
Book value of stocks and bonds over market value, 

Admitted assets, ....... 

Liabilities. 
Unpaid losses, ........ 

Unearned premiums on outstanding risks, 

Dividends due policy holders, ..... 

Salaries, expenses and accounts, due or accrued, 
Federal, state and other taxes, due or accrued, 

Total, 

Surplus to policy holders, ...... 

Total liabilities, including surplus, .... 



In force Dec. 31, 1911, 
Written during the year, 

Total, . 
Expired and terminated, 

In force at end of year, 
Deduct amount reinsured, 



Risks and Premiums. 

Risks. 

$25,855,302 00 
7,546,823 00 



Cash Prem's. 

$339,496 51 
94,136 56 



$33,402,125 00 
7,879,139 00 

$25,522,986 00 
73,227 00 



$433,633 07 
113,741 20 

$319,891 87 
809 99 



:.500 00 

20,600 00 

230,374 50 

134 49 

10,140 69 

4,738 63 

$273,488 31 



2,906 15 
$276,394 46 

3,001 50 
$273,392 96 

$1,190 80 

162,143 88 
822 73 
125 21 
476 91 

$164,759 53 
108,633 43 

$273,392 96 



Conting't Prem's. 

$339,496 51 
94,136 56 

$433,633 07 
113.741 20 

$319,891 87 



Net amount in force, . $25,449,759 00 $319,081 88 

Miscellaneous. 

Net premiums received from organization of companj-, . . $3,721,590 88 

Net losses paid from organization of company, . . . 1,353,126 35 

Cash dividends paid policy holders from organization of company, 2,070,229 58 

Losses incurred during the year, ...... 42,356 77 

Dividends to policy holders during 1912, 20, 30 and 40 per cent. 

Schedule A. Stocks and Bonds owned by the Company. 

Railroad Stocks. Book Value. Rate. Market Value. 

40 shares Boston Elevated 35,765 00 115 00 00 

25 " Union Pacific, preferred, . . . 2,500 00 92 2.300 00 



HOLYOKE MUTUAL FIRE INSURANCE CO. 



39 



Bank Stocks. 
30 shares Hingham National, 

11 " National Bk. of Commerce, Boston, 

12 " National Union, Boston, 

60 " Old Colony National, Plymouth, . 
22 " Webster Atlas Nat., Boston, 

Miscellaneous Stocks. 
62 shares Hingham Water Co., . 
50 " United Shoe Machinery Corp., pref., 

Railroad Bonds. 
Atch., Tod. & S. Fe (Trans. Sh. Line) 4s, 1958, 
Boston & Albany 4s, 1933, 
Boston Elevated 4s, 1935, 
Boston & Lowell 4s, 1927, 
Boston & Maine 4s, 1926, 
Boston & Northern Street 4s, 1954, 
Boston, Revere Beach & Lynn 4|s, 1927, 
Chicago, Burl. & Quiney (111. Div.) 3fs, 1949, 
Current River 5s, 1927, .... 
Fitchburg 4s, 1925, ... 
Lake Shore & Michigan Southern 4s, 1928, 
New York, New Haven & Hartford 4s, 1955, 
New York, Phila. & Norfolk income 4s, 1939, 
Nor. Pac- Gt. Nor. (C, B. & Q. col.) 4s, 1921, 
Old Colony 4s, 1925, .... 

Wabash equipment 4§s, 1916, 

Miscellaneous Bonds. 
American Tel. & Tel. Co. 4s, 1929, 
Des Moines Electric Co. 5s, 1938, 
Hingham Water Co. 5s, 1923-25, 
New England Tel. & Tel. Co. 5s, 1932, 



Book Value. 


Rate. 


Market Value. 


$3,000 


00 


115 


$3,450 00 


1,100 


00 


225 


2,475 00 


1,200 


00 


222 


2,664 00 


6,000 


00 


120 


7,200 00 


2,480 


00 


187 


4,114 00 


6,200 


00 


120 


7,440 00 


1,525 


00 


112 


1,400 00 


9,425 


00 


91 


9,100 00 


24,000 


00 


95 


22,800 00 


7,872 


50 


90 


7,200 00 


10,000 


00 


96 


9.600 00 


5,000 


00 


94 


4,700 00 


4,600 


00 


90 


4,500 00 


5,350 


00 


101 


5,050 00 


9,612 


50 


86 


8,600 00 


10,100 


00 


100 


10,000 00 


9,768 


75 


97 


9,700 00 


10,037 


50 


92 


9,200 00 


5,062 


50 


90 


4,500 00 


18,775 


00 


91 


18,200 00 


7,000 


00 


96 


6,720 00 


18,000 


00 


98 


17,640 00 


6,727 


00 


97 


6,790 00 


21,348 


75 


89 


19,580 00 


4,925 


00 


97 


4,850 00 


11,000 


00 


100 


11,000 00 


2,000 


00 


100 


2,000 00 


$230,374 


50 


$227,373 00 



HOLYOKE MUTUAL FIRE INSURANCE COMPANY, SALEM. 

Incorporated March 14, 1843. Commenced business May 23, 1843. 
CHARLES H. PRICE, President. LOUIS O. JOHNSON, Secretary. 

Guaranty Capital, $100,000. 

Income. 

Net premiums, $194,081 95 

Gross interest on mortgages, $1,172.50; stocks and bonds, 
$37,240.48; bank deposits, $400.98; gross rents, including 

$2,100 for company's own occupancy, $5,666.56, . . . 44,480 52 

Gross profit on sale of stocks, ...... 900 00 

Gross increase in book value of bonds, . . . . 88 75 

Dividends on reinsurance, . . . . . . . 1,715 20 

Dividends from banks in liquidation, ..... 655 00 

Sale of rights, 2,236 88 

Total income, $244,158 30 

Ledger assets, Dec. 31, 1911, 949,455 85 

Total, $1,193,614 15 

Disbursements. 

' Net amount paid policy holders for losses, .... $70,380 28 

Expenses of adjustment and settlement of losses, . . . 1,579 05 

Commissions or brokerage, ....... 29,250 39 

Agency expenses, . . . . . . . . 112 85 

Salaries and expenses of special agents, ..... 1,447 68 

Salaries, fees, etc., of officers and employees, .... 22,709 91 



40 



HOLYOKE MUTUAL FIRE INSURANCE CO. 



Rents, for company's own occupancy, 
Advertising, printing and stationery, 
Postage, telegrams, telephone and express, 
Furniture and fixtures, ..... 

Maps, including corrections, ..... 

Underwriters' boards and tariff associations. . 

Fire department, patrol and salvage corps fees and taxes, 

Inspection and surveys, ..... 

Repairs and expenses on real estate, 

Taxes on real estate, ...... 

State taxes on premiums, ..... 

Insurance Department licenses and fees, 

Other licenses, fees and taxes, .... 

Dividends to policy holders, ..... 

Dividends on guaranty capital, .... 

Gross decrease in book value of bonds, . 

All other disbursements, ..... 

Total disbursements, ..... 



Balance, ...... 

Ledger Assets. 

Book value of real estate, .... 

Mortgage loans on real estate, 

Book value of stocks and bonds (Schedule A), 

Cash in office, ...... 

Deposits in trust companies and banks on interest, 
Agents' balances, ..... 

Total ledger assets, .... 



Non-Ledger Assets. 

Interest due and accrued on : — 
Mortgages, $218.06; bonds, $10,880.56; other assets, $31.86, 
Rents accrued on company's property, .... 
Market value of real estate over book value, . 
Market value of stocks and bonds over book value, 
Commissiops on unpaid return premiums and reinsurance, 
Due from other companies, ...... 



Gross assets, 



Assets not admitted. 



Accrued interest in default, ...... 

Admitted assets, ....... 

Liabilities. 
Unpaid losses, including $300 resisted, $3,851.10; less reinsur 

ance, $40.88, 

Unearned premiums on outstanding risks, 
Dividends due policy holders, 
Salaries, expenses and accounts, due or accrued, 
Federal, state and other taxes, due or accrued, 
Commissions and other charges due agents and brokers, 



$2,100 00 

1,555 18 

1,168 85 

41 03 

1,304 69 

; 32 

231 29 

2,552 20 

1,992 22 

1,243 71 

1,190 16 

604 00 

1,936 71 

81,374 08 

7,000 00 

1,075 00 

840 20 

$232,223 80 

$961,390 35 



S47,000 00 
19,000 00 

845,164 00 

759 25 

15,167 15 

34,299 95 

$961,390 35 



11,130 48 

1,012 61 

22,000 00 

26,694 86 

289 11 

49 84 

$1,022,567 25 



400 00 
$1,022,167 25 



$3,811 

324.792 14 

16,161 11 

766 58 

1.436 19 

5.753 92 



HOLYOKE MUTUAL FIRE INSURANCE CO. 



41 



Due for return premiums, $1,538.52 reinsurance, $508.28, 
Commission on reinsurance return premiums, . 



$2,046 80 
52 



Total, . m . 
Guaranty capital, 
Surplus over all liabilities, 
Surplus to policy holders, 

Total liabilities, including surplus, 



$100,000 00 
567,399 77 



In force Dec. 31, 1911, 
Written during the year, 

Total, . 
Expired and terminated, 

In force at end of year 
Deduct amount reinsured, 

Net amount in force, 



Risks and Premiums. 

Risks. Cash Prem's. 

$45,154,748 00 $644,751 52 
14,206,154 00 207,102 32 



$59,360,902 00 
13,961,085 00 

$45,399,817 00 
736,421 00 



$851,853 84 
204,565 06 

$647,288 78 
9,709 89 



$354,767 48 



667,399 77 
$1,022,167 25 



Conting't Prem's. 

$644,751 52 
207,102 32 

$851,853 84 
204,565 06 

$647,288 78 



$44,663,396 00 $637,578 89 



Miscellaneous. 

Net premiums received from organization of company, 

Net losses paid from organization of company, 

Cash dividends paid policy holders from organization of company, 

Losses incurred during the year, 



Dividends to policy holders during 1912, 20, 30, 40, 50 and 60 per cent. 



£6,798,964 99 
2,926,384 78 
2,263,486 82 
72,492 05 



Schedule A. Stocks and Bonds owned by the Company. 



Railroad Stocks. 
50 shares Boston & Maine, 
31 " Old Colony, .... 

100 " Pitts., Ft. Wayne & Chicago, 

162 " Union Pacific, preferred, 
25 " West End Street, 

Bank Stocks. 
10 shares Beverly National, 
10 " First National, Salem, (liquid.), . 
20 " Fourth- Atlantic National, Boston, 
35 " Mercantile National, Salem, 
10 " Merchants National, Salem, 
40 " Nat. Exchange, Salem (liq.), 
10 " National Shawmut, Boston, 
93 " Salem National, Salem (liq.), 

100 " Second National, Boston, . 

Miscellaneous Stocks. 
20 shares H. B. Claflin Co., N. Y., 1st pref., 
15 " Edison Elec. Ilium. Co., Boston, 

State, County and Municipal Bonds. 
Attleboro, Mass., tax exempt 4s, 1926, 
Auburn, Me., 3^8, 1920, . 
Belmont, Mass., 3£s, 1930, 
Beverly, Mass., 4s, 1931-32, 
Boston, Mass., 3§s, 1928, . 
Buffalo, N. Y., 4s, 1931, . 
Cambridge, Mass., 4s, 1924, 
Concord, Mass., 3|s, 1932, 
Essex County, Mass., 4s, 1913-14, 
Essex County, Mass., 4Js, 1913, 
Everett, Mass., 4s, 1923, . 
Everett, Mass., 4s, 1933, . 



Book Value. 
$5,000 00 

3,100 00 
10,000 00 
16,200 00 

1,250 00 

1,000 00 

300 00 

2,000 00 

3,500 00 

500 00 

1,000 00 

10,000 00 

2,000 00 
1,500 00 

5,000 00 

5,000 00 

5,000 00 

9,000 00 

5,000 00 

10,000 00 

5,000 00 

10,000 00 

10,000 00 

5,000 00 

5,214 00 

5,000 00 



Rate. 

98 

177 

165 

92 

162 

152 
5 

194 
120 
170 

7 
243 

7 
290 

90 

284 

103 
96 
93 
98 
94 
98 

100 
93 

100 

100 
99 
98 



Market Value. 

$4,900 00 

5,487 

16,500 

14,904 

2,025 



00 
00 
00 
00 



1,520 00 

50 00 

3,880 00 

4,200 00 

850 00 

280 00 

2,430 00 

651 00 

29,000 00 

1,800 00 

4,260 00 



00 
00 
00 
00 
00 



5,150 
4,800 
4,650 
8,820 
4,700 
9,800 00 
5,000 00 
9,300 00 
10,000 00 
5,000 00 
5,161 S6 
4,900 00 



42 



HOLYOKE MUTUAL FIRE INSURANCE CO. 



Framingham, Mass., water 4s, 1925-29, 
Hopkinton, Mass., 4s, 1916, 
Jersey City, N. J., 5s, 1916, 
Jersey City, N. J., 5s, 1922, 
Lawrence, Mass., 4s, 1923, op. 1913, 
Los Angeles, Cal., 4§s, 1920, 
Lowell, Mass., 4§s, 1913, . 
Lynn, Mass., 4s, 1918, 
Marblehead, Mass., 4s, 1913-16, 
Marblehead, Mass., 4s, 1919, 
Massachusetts tax exempt 3§s, 1936, 
Massachusetts 3|s, 1933, . 
Needham, Mass., 4s, 1933, 
Newton, Mass., 4s, 1936, . 
New York, N. Y., 4s, 1959, 
Orange, N. J., 5s, 1920, . 
Pawtucket, R. I., 4s, 1923, 
Pawtucket, R. I., 4s, 1944, 
Peabody, Mass., 4s, 1923, 
Peabody, Mass., 4s, 1924, 
Salem, Mass., 3K 1917, . 
Salem, Mass., 3|s, 1918, . 
Salem, Mass., 4s, 1925-28, 
St. Paul, Minn., 5s, 1913, . 
St. Paul, Minn., 4§s, 1917-18, . 
Springfield, Mass., tax exempt 4s, 1947, 
Taunton, Mass., 4s, 1915, 
Waltham, Mass., 4s, 1913, 
Waterbury, Conn., 4s, 1915-16, 
Weymouth, Mass., 4s, 1925, 
Winchester, Mass., 3|s, 1921-22, 
Woonsocket, R. I., 4s, 1923, 
Woonsocket, R. I., 4Js, 1927, . 
Railroad Bonds. 
Atch., Top. & Santa Fe adj. 4s, 1995, . 
Atch., Top. & Santa Fe gen. 4s, 1995, 
Baltimore & Ohio prior lien 3^s, 1925, 
Baltimore & Ohio 1st 4s, 1948, . 
Boston & Albany 4s, 1934, 
Boston & Lowell 4s, 1918, 
Boston & Maine 4s, 1926, 
Boston & Providence 4s, 1918, . 
Canada Southern 1st 6s, 1913, 
Central New Jersey gen. 5s, 1987, 
Central Pacific 1st ref. 4s, 1949, 
Central Pacific 3 §s, 1929, . 
Central Vermont 1st 4s, 1920, . 
Chicago, Burlington & Quincv 5s, 1913, 
Chic, Burl. & Quincy (Neb. Ext.) 4s, 1927, 
Chic, Burl. & Quincy (111. Div.) 3*8, 1949, 
Chicago & Northwestern ext. 4s, 1926, 
Chicago & Northwestern deb. 5s, 1921, 
Chicago & Western Indiana gen. 6s, 1932, . 
Cincinnati, Hamilton & Dayton gen. 5s, 1942, 
Cleveland Electric 1st 5s, 1913, . 
Cleveland, Lorain & Wheeling 1st 5s, 1933, 
Delaware & Hudson 1st 7s, 1917, 
Erie & Pittsburg gen. 3 is, 1940, 
Erie (Pennsylvania collateral) 4s, 1951, 

Fitchburg 4s, 1916 

Housatonic cons. 5s, 1937, 

Illinois Cent. (Cairo Bridge) 4s, 1950, 

Illinois Central Purchased Lines 1st 3|s, 1952, 

Illinois Central ref. 4s, 1955, 

Jamestown, Franklin & Clearfield 1st 4s, 1959, 

Kan. City, Ft. Scott & Memphis cons. 6s, 1928, 

Lake Shore & Michigan Southern 4s, 1928, 

Lehigh Valley cons. 6s, 1923, 

Long Island ref. 4s, 1949, .... 

Me. Cent. & European & No. Am. 4s, 1933, 

Narragansett Pier 1st 4s, 1916, . 

New England cons. 5s, 1945, 



00 
00 
00 
00 



00 
00 
00 
00 
00 



Book Value. 
$10,000 00 
.'1. 000 00 
5,000 00 
3,000 00 
5,000 00 

10,000 00 
6,600 00 
8,000 00 
4,000 00 
1,000 00 
5,000 00 

10,000 00 
7,000 00 
5,000 
5,000 

10,000 

10,000 
5,000 00 
5,000 00 
5,000 
3,000 
2,000 
6,000 

10,000 

15,000 00 

10,000 00 
3,000 00 
2,000 00 

10,000 00 
5,000 00 
5,000 00 
5,000 00 
5,000 00 

5,000 00 
9,000 00 

10,500 00 
1,500 00 
5,000 00 
5.000 00 

15,000 00 
9,000 00 
5,000 00 
7,000 00 
3,000 00 
500 00 
2,000 00 

10,000 00 
5,000 00 
5,000 00 
1,000 00 
3,000 00 
6,000 00 

10,000 00 
2,000 00 

15,000 00 
5.000 00 
5,000 00 
5,000 00 

10,000 00 

10,000 00 
3.000 00 
5,000 00 

10,000 00 
5,000 00 

13,000 00 
5,000 00 
5,000 00 
5,000 00 
4,000 00 

10,000 00 

25,000 00 



Rate. 

98 

99 

103 

106 

99 

100 

100 

99 

100 

99 

99 

94 

98 

99 

96 

104 

98 

97 

100 

99 

98 

97 

99 

100 

102 

105 

100 

100 

100 

100 

96 

98 

102 

88 

97 

92 

97 

95 

98 

94 

99 

100 

119 

95 

90 

89 

100 

97 

86 

96 

103 

108 

102 

100 

107 

112 

91 

89 

99 

114 

94 

84 

96 

94 

112 

92 

115 

94 

95 

98 

114 



Market Value. 

M>0 00 

70 00 

5,160 00 

3,180 00 

50 00 

10,000 00 

6,600 00 

20 00 

4,000 00 

000 00 

4,950 00 

9,400 00 

6,860 00 

4,950 00 

4300 00 

10,400 00 

10 00 

50 00 

5,000 00 

4,950 

2,940 

1.040 

5,940 

10,01 

I 

10,500 00 

.1000 00 

10 00 

10.000 00 

5,000 00 

4,800 00 

4,900 00 

5,100 00 



00 
00 
00 
00 



00 
00 
00 
00 
00 
00 
00 



00 
00 
00 
00 
00 
00 
00 



4,400 

9,660 
1,455 
4.750 
4.900 
14.100 

10 00 

5,000 00 

30 00 

50 00 

450 00 

1.780 

10,000 

4.300 

960 

3,090 

6,480 

10,200 00 
2,000 00 

16,050 00 
5,600 00 
4.550 00 
4.450 00 
9,900 00 

11.400 00 
2,820 00 
4.200 00 
9,600 00 
4.700 00 

14,560 00 
4.600 00 
5.750 00 
4.700 00 
00 
9.S00 00 

- - >0 00 



INDUSTRIAL MUTUAL INSURANCE CO. 



43 



New- Haven & Derby cons. 5s, 1918, . 

N. Y. Cent. & Hudson River 3*s, 1997, 

N. Y. Cent. & Hud. R. (Mich. Con. col.) 3*s, 1998, 

N. Y. Cent. & Hud. R. (Lake Shore col.) 3£s, 1998, 

N. Y., N. H. & H. (Harlem River-Pt. Chester) 

1st 4s 1954 
N. Y., N. H. & Hartford conv. deb. 3§s, 1956, 
N. Y., N. H. & Hartford conv. deb. 6s, 1948, 
N. Y., N. H. & Hartford deb. 4s, 1955, 
New York, Ontario & Western 4s, 1992, 
No. Pac.-Gt. Nor. (C, B. & Q. col.) 4s, 1921, 
No. West. Union 1st 7s, 1917, . 
Norwich & Worcester 4s, 1927, . 
Old Colony 4s, 1924-25, .... 
Oregon Short Line ref. 4s, 1929, 
Pennsylvania Co. 3|s, 1916, 
Pennsylvania R.R. conv. 3§s, 1915, 
Peoria & Northwestern 1st 3^s, 1926, 
Princeton & Northwestern 1st 3^s, 1926, 
Richmond-Wash. guar. col. 4s, 1943, . 
Schenectady 1st 4|s, 1941, 
Seattle Electric 1st 5s, 1930, 
St. Paul, Minn. & Manitoba cons. 4|s, 1933, 
Terminal Asso., St. Louis, 1st 4Js, 1939, 
Third Avenue, N. Y., 1st cons. 4s, 2000, 
Union Pacific 1st 4s, 1947, 
West End Street 4s, 1915, 
West End Street 4s, 1932, 

Miscellaneous Bonds. 
American Cotton Oil Co. deb. 4Js, 1915, 
Am. Tel. & Tel. Co. 4s, 1929, . 
Clinton W. W. Co., Clinton, la., 1st 5s, 1939, 
Western Union Tel. Co. col. tr. 5s, 1938, . 
Woonsocket El. Mch. & Power Co. cons. 4|s, 1943, 



Book Value. 

$20,000 00 

3,000 00 

3,000 00 

5,000 00 

5,000 00 
9,000 00 
2,000 00 

10,000 00 

20,000 00 
5,000 00 
8,000 00 
5,000 00 

15,000 00 
5,000 00 
1,000 00 
5,000 00 
8,000 00 

11,000 00 
5,000 00 
5,000 00 
2,000 00 

12,000 00 
6,000 00 
2,000 00 

22,500 00 
3,000 00 

10,000 00 



10,000 

15,000 

5,000 

5,000 

3,000 



00 
00 
00 
00 
00 



Rate. 

103 
87 
79 
79 

97 

87 

125 

90 

95 

96 

112 

98 

98 

92 

98 

97 

92 

92 

95 

103 

104 

105 

104 

75 

99 

99 

94 

97 
89 
96 
101 
96 



Market Value. 

$20,600 00 
2,610 00 
2,370 00 
3,950 00 

4,850 00 

7,830 00 

2,500 00 

9,000 00 
19,000 00 

4,800 00 

8,960 00 

4,900 00 
14,700 00 

4,600 00 
980 

4,850 

7,360 
10,120 

4,750 

5,150 

2,080 
12,600 

6,240 

1,500 
22,275 

2,970 

9,400 



00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 



9,700 
13,350 
4,800 
5,050 
2,880 



00 
00 
00 
00 
00 



$845,164 00 



$871,858 86 



INDUSTRIAL MUTUAL INSURANCE COMPANY, 

Incorporated April 17, 1890. Commenced business June 1, 1890. 
CHARLES T. PLUNKETT, President. BENJAMIN 

Office, 31 Milk Street. 

Income. 
Net premiums, ......... 

Gross interest on bonds, $13,920; bank deposits, $669.58, 

Total income, ........ 

Ledger assets, Dec. 31, 1911, ...... 

Total, 

Disbursements. 
Net amount paid policy holders for losses, 
Salaries, fees, etc., of officers and employees, 
Rents, ...... 

Advertising, printing and stationery, 
Postage, telegrams, telephone and express, 
Inspection department, for inspections, maps, plans, and adjust- 
ment of losses, ..... 

State taxes on premiums, 

Insurance department licenses and fees, . 

Other licenses, fees and taxes, 



BOSTON. 

TAFT, Secretary. 



$292,153 90 
14,589 58 

$306,743 48 
344,369 60 

$651,113 08 



$13,814 63 

8,190 24 

777 60 

1,001 50 

609 05 

6,207 57 

3,169 71 

155 00 

1,311 72 



44 INDUSTRIAL MUTUAL INSURANCE CO. 

Dividends to policy holders, ....... $254,735 83 

All other disbursements, ....... 939 31 



Total disbursements, $290,912 16 

Balance, $360,200 92 

Ledger Assets. 

Book value of bonds (Schedule A), $318,250 48 

Cash in office, ......... 155 14 

Deposits in trust companies and banks on interest, . . . 30,338 40 

Premiums in course of collection, ...... 11,45690 



Total ledger assets, $360,200 92 

Non-Ledger Assets. 
Interest accrued on bonds, ....... 4,796 21 



Gross assets, $364,997 13 

Assets not admitted. 
Book value of bonds over market value, .... 12,910 48 



Admitted assets, $352,086 65 

Liabilities. 

Unpaid losses, ......... $1,855 17 

Unearned premiums on outstanding risks, .... 153,885 35 

Salaries, expenses and accounts, due or accrued, ... 2 56 

Federal, state and other taxes, due or accrued, . . . 2,677 83 



Total, $158,700 91 

Surplus to policy holders, ....... 193,385 74 



Total liabilities, including surplus, ..... $352,086 65 

Risks and Premiums. 

Risks. Cash Prem's. Conting't Prem's. 

In force Dec. 31, 1911, . $34,702,531 00 $300,641 67 $1,503,208 35 

Written during the year, . 36,020,997 00 307,559 56 1,537,797 



Total, . . . $70,723,528 00 $608,201 23 $3,041,006 15 

Expired and terminated, . 34,689,402 00 298,589 51 1,492,947 55 



In force at end of year, . $36,034,126 00 $309,61172 $1,548,058 60 

Miscellaneous. 

Net premiums received from organization of company, . . $4,966,174 17 

Net losses paid from organization of company, . . . 735,963 38 

Cash dividends paid policy holders from organization of company, 3,659,790 17 

Losses incurred during the year, ...... 14,930 75 

Dividends to policy holders during 1912, 90 per cent. 

Schedule A. Bonds owned by the Company. 

State and Municipal Bonds. Book Value. Rate. Market Value. 

Fall River, Mass., 3£s, 1915, .... S10,000 00 99 89.900 00 

Massachusetts 3|s, 1933, 4,000 00 94 3.7*10 00 

Massachusetts 3§s, 1940 39,073 60 93 3S.130 00 



LOWELL MUTUAL FIRE INSURANCE CO. 



45 



Railroad Bonds. 
Aurora, Elgin & Chicago 5s, 1946, 
Bangor & Aroostook cons. 4s, 1951, 
Boston Elevated 4s, 1935, 
Boston & Maine 4s, 1926, 
Boston & New York Air Line 4s, 1955, 
Chicago, Indiana & Southern 4s, 1956, 
Chicago, Rock Island & Pacific 4|s, 1915, 
Colorado & Southern 4Js, 1935, 
El Paso & Rock Island 5s, 1951, 
Florida East Coast 4£s, 1959, 
Maine Central 4|s, 1916, . 
Maryland, Delaware & Virginia 5s, 1955, 
Missouri Pacific 5s, 1914, . 
N. Y. Cent. & Hud. R. (Lake Sh. col.) 3|s, 1998, 
New York, Chicago & St. Louis 4s, 1931, 
New York, New Haven & Hartford 4s, 1955, 
New York, New Haven & Hartford 4s, 1914, 
New York, Ontario & Western 5s, 1915, 
Northern Maine Seaport 5s, 1935, 
Nor. Pac.-Gt. Nor. (C, B. & Q. col.) 4s, 1921, 
Richmond-Washington Co. 4s, 1943, . 
Rock Is., Ark. & Louisiana 4^s, 1934, 
Worcester & Holden Street 5s, 1923, . 

Miscellaneous Bonds. 
American Telephone & Telegraph Co. 4s, 1929, 
American Writing Paper Co. 5s, 1919, 
Billings & Eastern Montana Power Co. 6s, 1934, 
New England Tel. & Tel. Co. 4s, 1930, 
New England Tel. & Tel. Co. 5s, 1919, 
Western Electric Co. 5s, 1922, . 
Western Tel. & Tel. Co. 5s, 1932, 
Western Union Telegraph Co. 4|s, 1950, 



Book Value. 
$4,750 00 

3,400 

3,000 

4,821 

3,000 
14,437 

2,000 

5,000 

1,920 

4,812 

5,000 

5,000 

4,925 

8,000 00 

7,432 50 

15,000 00 

980 00 

5,000 
15,000 
15,530 

7,000 

4,693 

3,000 



00 
00 
88 
00 
50 
00 
00 
00 
50 
00 
00 
00 



00 
00 
00 
00 
75 
00 



22,485 00 

20,000 00 

5,000 00 

20,000 00 

19,000 00 

2,988 75 

3,000 00 

29,000 00 

$318,250 48 



Rate. 
95 
81 
90 
94 
97 
92 
99 
94 

100 
96 

100 
98 

100 
79 
88 
90 
99 

101 

103 
96 
95 
88 

100 

89 

89 
101 

89 
100 
102 
100 

95 



Market Value. 

$4,750 00 
3,240 00 
2,700 00 
4,700 00 
2,910 00 

13,800 00 
1,980 00 
4,700 
2,000 
4,800 
5,000 
4,900 00 
5,000 00 
7,900 
7,040 

13,500 
990 
5,050 00 

15,450 00 

15,360 00 
6,650 00 
4,400 00 
3,000 00 

20,470 00 

17,800 00 

5,050 00 

17,800 00 

19,000 00 

3,060 00 

3,000 00 

27,550 00 

$305,340 00 



00 
00 
00 
00 



00 
00 
00 
00 



LOWELL MUTUAL FIRE INSURANCE COMPANY, LOWELL. 

Incorporated March 6, 1832. Commenced business April, 1832. 
CLARENCE H. NELSON, President. JOSEPH PEABODY, Secretary. 

Income. 

Net premiums, $72,964 98 

Gross interest on mortgages, $302.50; stocks and bonds, 

$7,603.44; bank deposits, $393.58, 8,299 52 

Gross increase in book value of bonds, ..... 443 75 

Dividends and return premiums on reinsurance, . . . 1,269 29 

Stock dividend on Lowell Bleachery stock, .... 1,600 00 

From all other sources, ....... 1,945 70 



Total income, ..... 
Ledger assets, Dec. 31, 1911, 

Total, 

Disbursements. 
Net amount paid policy holders for losses, 
Expenses of adjustment and settlement of losses, 
Commissions or brokerage, . 
Salaries, fees, etc., of officers and employees, 
Rents, ...... 

Advertising, printing and stationery, 
Postage, telegrams, telephone and express, 
Furniture and fixtures, 
Maps, including corrections, . 



$86,523 24 
180,485 21 

$267,008 45 



$26,277 69 

597 37 

11,091 83 

10,568 80 

1,200 00 

448 78 

591 08 

298 34 

912 86 



: ! 



46 



LOWELL MUTUAL FIRE INSURANCE CO. 



Underwriters' boards, tariff associations, fire department, patrol 
and salvage corps fees and taxes, ..... 

State taxes on premiums, ....... 

Insurance department licenses and fees, .... 

Other licenses, fees and taxes, ...... 

Dividends to policy holders, ....... 

Agents' balances charged off, ...... 

All other disbursements, ....... 

Total disbursements, ....... 

Balance, ......... 

Ledger Assets. 
Mortgage loans on real estate, 
Book value of stocks and bonds (Schedule A), 
Cash in office, ...... 

Deposits in trust companies and banks on interest, 
Agents' balances, ..... 

Total ledger assets, .... 

Non-Ledger Assets. 
Interest accrued on : — 
Mortgages, $69.68; bonds, $1,242.14, 
Market value of stocks and bonds over book value, 

Gross assets, ..... 

Liabilities. 
Unpaid losses, ...... 

Unearned premiums on outstanding risks, 
Dividends due policy holders, 
Salaries, expenses and accounts, due or accrued, 
Federal, state and other taxes, due or accrued, 
Due for return premiums, .... 

Total, . 

Surplus to policy holders, .... 

Total liabilities, including surplus, . 



$459 61 


842 92 


168 00 


428 95 


26,398 50 


9 37 


459 33 


$80,753 43 


$186,255 02 


$5,800 00 


156,700 00 


503 38 


14,200 60 


9,051 04 


$186,255 02 


1,311 82 


23,248 00 


$210,814 84 


S479 82 


106,337 74 


1,079 71 


870 00 


167 13 


204 09 



Risks and Premiums. 

Risks. 

$14,167,006 00 
5,233,982 00 



Cash Prem's. 

$217,001 49 
82,650 05 



In force Dec. 31, 1911, 
Written during the year, 

Total, . 
Expired and terminated, 

In force at end of year, 
Deduct amount reinsured, 

Xet amount in force, . $13,808,504 00 $211,267 31 

Miscellaneous. 
Losses incurred during the year, ...... 

Dividends to policy holders during 1912, 20, 40 and 60 per cent. 



$19,400,988 00 
4,721,862 00 

$14,679,126 00 
870,622 00 



$299,651 54 
75,012 38 

$224,639 16 
13,371 85 



$109,138 49 
101,676 35 

$210,814 84 



Conting't Prem's. 

$217,001 49 
82,650 05 

$299,651 54 
75.012 38 

$224,639 16 



$23,480 34 



LUMBER MUTUAL FIRE INSURANCE CO. 



47 



Schedule A. Stocks and Bonds owned by the Company. 



Railroad Stocks. 
20 shares Boston & Lowell, 
37 " Boston & Maine, 
71 " Lowell & Andover, . 
6 " Vermont & Massachusetts, 

Bank Stocks. 
16 shares Union National, Lowell, 

Miscellaneous Stocks. 
36 shares Appleton Co., Lowell, 



Bigelow Carpet Co., Lowell, 
Hamilton Mfg. Co., Lowell, 
Hill Co., Lewiston, Me., 
Lawrence Co., Lowell, 
Lowell Bleachery, 
Lowell Gas Light Co., 
Massachusetts Cotton Mills, 
Merrimack Mfg. Co., Lowell, 
Pacific Mills, Lawrence, 



70 

2 
15 
16 
32 
46 
50 
132 

2 

Municipal Bonds. 
Boston, Mass., 4s, 1923, . 
Middletown, Conn., 3£s, 1921, . 
Sharon, Mass., 4s, 1923-24, 

Railroad Bonds. 
Boston & Albany 4s, 1935, 
Boston Elevated 4s, 1935, 
Boston & Lowell 4s, 1916, 
Boston & Lowell 4s, 1932, 
Boston & Maine 3fs, 1925, 
Boston & Maine 3$s, 1921, 
Central Vermont 4s, 1920, 
Chicago, Burl. Quincy (111. Div.) 3£s, 1949, 
Chicago, Burl. & Quincy (111. Div.) 4s, 1949, 
Chicago, Burl. & Quincy (Iowa Div.) 4s, 1919, 
Chicago & Northwestern 4s, 1987, 

Fitchburg 4s, 1915, 

Fitchburg 4s, 1925, 

Illinois Central (St. L. Div.) 3|s, 1951, 

New York Central & Hudson River 3£s, 1997, 

N. Y. Central Lines equip. 5s, 1916-17, 

New York, New Haven & Hartford 4s, 1955-56, 

Portland & Rumford Falls 4s, 1926, . 

Richmond & Washington 4s, 1943, 

Washington County 3§s, 1954, . 

Miscellaneous Bonds. 
American Tel. & Tel. Co. notes, 4s, 1929, . 



Book Value. 

$2,000 00 

3,700 00 

7,100 00 

600 00 

1,600 00 

3,600 00 
7,000 00 
2,000 00 
1,500 00 
1,600 00 
3,200 00 
4,600 00 
5,000 00 
13,200 00 
2,000 00 

2,000 00 
3,000 00 
2,000 00 

3,000 00 
10,000 00 
6,000 00 
3,000 00 
1,000 
4,000 
1,000 
2,000 
2,000 
3,000 
3,000 
7,000 
3,000 00 
3,000 00 
1,000 00 
2,000 00 
18,000 00 
3,000 00 
2,000 00 
1,000 00 

13,000 00 
$156,700 00 



00 
00 
00 
00 
00 
00 
00 
00 



Rate. 

206 

98 

215 

150 

180 

172 
170 

90 
119 
175 
128 
302 
120 

41 
401 

100 
96 
99 

95 
90 
99 
95 
89 
92 
89 
86 
99 
99 
98 
99 
97 
85 
87 
101 
90 
97 
95 
83 

89 



Market Value. 

$4,120 00 

3,626 00 

15,265 00 

900 00 

2,880 00 

6,192 00 
11,900 00 

1,800 00 

1,785 

2,800 

4,096 
13,892 

6,000 

5,412 

8,020 



00 
00 
00 
00 
00 
00 
00 



2,000 00 
2,880 00 
1,980 00 



2,850 00 
9,000 00 
5,940 
2,850 

890 
3,680 

890 
1,720 
1,980 
2,970 
2,940 
6,930 
2,910 
2,550 

870 

2,020 

16,200 

2,910 

1,900 

830 



00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 



11,570 00 
$179,948 00 



THE LUMBER MUTUAL FIRE INSURANCE COMPANY OF BOSTON, 

MASSACHUSETTS. 

Incorporated Feb. 13, 1895. Commenced business March 28, 1895. 
GEORGE W. GALE, President. HARRY E. STONE, Secretary. 

Office, 141 Milk Street. 

Income. 

Net premiums, $424,104 96 

Gross interest on bonds, $24,750.82; bank deposits, $3,511.63; 

all other, $1.69, 28,264 14 

Agents' balances previously charged off, .... 9 11 

Gross profit on sale of bonds, 150 88 



48 



LUMBER MUTUAL FIRE INSURANCE CO. 



Gross increase in book value of bonds, 
Gale and Stone agency, 

Total income, 
Ledger assets, Dec. 31, 1911, 

Total, 

Disbursements. 
Net amount paid policy holders for losses, 
Expenses of adjustment and settlement of losses, 
Commissions or brokerage, . 
Agency expenses, .... 

Salaries, fees, etc., of officers and employees, 
Rents, ...... 

Advertising, printing and stationery, 
Postage, telegrams, telephone and express, 
Legal expenses, ..... 

Furniture and fixtures, 

Fire department, patrol and salvage corps fees and taxes, 

Inspections and surveys, 

State taxes on premiums, 

Insurance department licenses and fees, 

Other licenses, fees and taxes, 

Dividends to policy holders, . 

Agents' balances charged off, 

Gross loss on sale of bonds, . 

Gross decrease in book value of bonds, 

All other disbursements, 

Total disbursements, 

Balance, .... 

Ledger Assets. 

Book value of bonds (Schedule A), 

Cash in office, ...... 

Deposits in trust companies and banks on interest, 
Agents' balances, ..... 

Total ledger assets, .... 

Non-Ledger Assets. 
Interest accrued on : — 
Bonds, $4,632.40; other assets, $175, 
Due from Gale and Stone agency, 
Cash held for agency expenses, 



Gross assets, 



24 26 

19,000 00 

$472,153 35 
675,087 31 

§1,147,240 66 



$145,797 90 

216 44 

22,657 16 

2,326 70 

37,452 66 

3,631 32 

2,289 10 

1,056 92 

154 76 

580 27 

237 

5,575 86 

6,729 24 

1,374 00 

958 50 

157,600 45 

34 09 

7 25 

428 03 

2,684 55 

$391,792 43 

$755,448 23 



$634,230 07 

854 88 

102,609 15 

17,754 13 

$755,448 23 



4,807 40 

12,639 15 

715 78 

.610 56 



Assets not admitted. 



Agents' balances over three months due, 
Book value of bonds over market value, 
Due from Gale and Stone agency, . 
Cash held for agency expenses, 

Admitted assets,* . 



S15 


90 


. 14,690 07 


. 12,639 


15 


715 


78 







28.060 90 
$745,549 66 



* These assets include deposits in this country amounting to §10,100, which the company has made for 
the protection of certain policy holders. Liabilities of $4,385.86 have accrued against these deposits, wnich 
are included in the total liabilities of the company. The excess of these deposits over corresponding lia- 
bilities is $5,714.14, which is included in the surplus and is subject to a lien under the conditions of the 
special deposit, which, in certain contingencies, would, it should be noted, remove said excess from the 
funds available to pay the claims of general policy holders. 



LUMBER MUTUAL FIRE INSURANCE CO. 



49 



Liabilities. 

Unpaid losses, including $1,000 resisted, 
Unearned premiums on outstanding risks, 
Salaries, expenses and accounts, due or accrued, 
Federal, state and other taxes, due or accrued, 

Total, 

Surplus to policy holders, .... 

Total liabilities, including surplus, . 



In force Dec. 31, 1911, 

Written during the year, 

Total, . 
Expired and terminated, 

In force at end of year, 



Risks and Premiums. 

Risks. Cash Prem's. 

. $16,639,492 00 $377,884 95 
. 21,146,234 00 485,946 26 



$13,754 01 

203,884 76 

91 89 

5,687 05 

$223,417 71 
522,131 95 

$745,549 66 



Conting't Prem's. 

$1,133,654 85 

1,457,838 78 



$37,785,726 00 
19,597,814 00 



$863,831 21 $2,591,493 63 
456,061 70 1,368,185 10 



$18,187,912 00 $407,769 51 $1,223,308 53 



Miscellaneous. 

Net premiums received from organization of company, . . $3,112,837 09 

Net losses paid from organization of company, . . . 1,039,164 95 

Cash dividends paid policy holders from organization of company, 956,766 48 

Losses incurred during the year, ...... 152,291 18 

Dividends to policy holders during 1912, 40 per cent. 



Schedule A. Bonds owned by the Company. 



State and Municipal Bonds. 
Attleborough, Mass., 3|s, 1920, 
Boston, Mass., 3|s, 1925, . 
Boston, Mass., 3^s, 1935, . 
Brockton, Mass., 3§s, 1934, 
Brookline, Mass., 3£s, 1917-18, 
Brookline, Mass., 3|s, 1919-20, 
Brookline, Mass., 3§s, 1921, 
Brookline, Mass., 3|s, 1922-23, 
Cambridge, Mass., 3£s, 1921, 
Cambridge, Mass., 3|s, 1925, 
Falmouth, Mass., 3§s, 1929, 
Falmouth, Mass., 3^s, 1930-31, 
Framingham, Mass., 4s, 1925-26, 
Georgia 4|s, 1915, 
Gloucester, Mass., 4s, 1916, 
Gloucester, Mass., 4s, 1917-22, 
Lynn, Mass., 3£s, 1914, . 
Nashville, Tenn., 4§s, 1923, 
Pawtucket, R. I., 4s, 1944, 
Pittsfield, Mass., 3£s, 1915, 
Pittsfield, Mass., 3£s, 1916, 
Pittsfield, Mass., 3£s, 1917, 
Portland, Ore., 4s, 1934, . 
Stamford, Conn., 4s, 1938-42, 
Waltham, Mass., 3hs, 1921, 
Waterbury, Conn., 4s, 1941, 
Watertown, Mass., 4s, 1914-16, 
Watertown, Mass., 4s, 1917, 

Railroad Bonds. 
B. & O. (Pittsburgh, L. E. & W. V.) 4s, 1941, 
Boston & Albany 3§s, 1951, 
Boston & Albany 4s, 1933, 
Boston Elevated 4|s, 1941, 
Boston Elevated (Temp. Certificate) 5s, 1942, 



Book Value. 
$4,830 06 

9.745 91 
9,000 00 

14,104 25 
4,423 77 
4,883 41 
2,430 17 
4,838 71 

5.081 05 
15,225 78 

940 46 

3.746 79 

8.082 19 
10,410 18 

1,006 35 

11,128 04 

3,000 00 

10,434 21 

10,534 49 

993 81 

2,975 81 

989 48 

10,907 29 

10,156 07 

7,087 51 

5,085 56 

7,090 06 

3,062 24 



4,597 

3,721 

15,202 

10,000 

5,000 



69 
74 
65 
00 
00 



Rate. 
97 
95 
93 
93 
98 
97 
96 
95 
96 
95 
94 
93 
98 

101 

100 
99 
99 

101 
97 
99 
98 
97 
95 
98 
96 
98 

100 
99 

89 
84 
95 
96 
103 



Market Value. 
$4,850 00 

9,500 00 

8,370 00 
13,020 

4,410 

4,850 

2,400 

4,750 

4,800 

14,250 

940 

3,720 

7,840 
10,100 

1,000 
10,890 00 

2,970 00 
10,100 

9,700 
990 

2,940 

970 

10,450 

9,800 

6,720 

4,900 

7,000 

2,970 



00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 



00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 



4,450 00 

3,360 00 

14,250 00 

9,600 00 

5,150 00 



50 



LUMBER MUTUAL FIRE INSURANCE CO. 



Boston & Maine 4s, 1926, 

Boston & Maine 4£s, 1929, 

Boston & New York Air Line 4s, 1955, 

Boston & Northern Street 4s, 1954, 

Boston, Revere Beach & Lynn 4|s, 1927, 

Chicago, Burlington & Quincy 4s, 1949, 

Chicago Railways Co. 5s, 1927, . 

Concord & Montreal 4s, 1920, . 

Dutchess County 4§s, 1940, 

Fitchburg 4|s, 1928, .... 

Florida East Coast 4*s, 1959, . 

Kansas City & Memphis Ry. & Br. Co. 5s, 1929, 

Kansas City Terminal 4s, 19G0, 

Lake Shore & Michigan Southern 4s, 1931, 

Long Island refunding 4s, 1949, 

Maine Central & European & N. Am. 4s, 1933, 

Middlesex & Boston Street 4§s, 1932, 

Minn., St. P. & 8. Ste. Marie (Cen. Ter.)4s, 1941 

Montreal Tramways Co. 5s, 1941, 

New York Central & Hudson River 4s, 1934, 

New York, New Haven & Hartford 4s, 1955-56, 

New York, New Haven & Hartford 6s, 1948, 

Nor. Pac.-Gt. Nor. (C, B. & Q. col.) 4s, 1921, 

Northern Texas Traction 5s, 1933, 

Old Colony 4s, 1938, 

Old Colony Street 4s, 1954, 

Pennsylvania 4s, 1952, 

Pennsylvania S^s, 1915, 

Portland & Ogdensburg 4-Js, 1928, 

Seattle Electric Co. 5s, 1929, 

Texas Traction Co. 5s, 1937, 

Virginian 5s, 1962, .... 

West End Street 4js, 1923, 

West End Street 4s, 1916-17, . 

Miscellaneous Bonds. 
Adirondack Electric Power Corp. 5s, 1962, . 
American Agricultural Chemical Co. 5s, 1928, 
American Telephone & Telegraph Co. 4s, 1929, 

Armour & Co. 4|s, 1939 

Bell Telephone Co. Canada, Ltd., 5s, 1925, 

Central Maine Power Co. 5s, 1939, 

Chicago Telephone Co. 5s, 1923, 

Consumers Power Co. 5s, 1936, . 

Detroit Edison Co. 5s, 1933, 

Dom. P. & Tr. Co., Ltd., Hamilton, Ont., 5s, 1932 

Eastern Texas Electric Co. 5s, 1942, . 

Hamilton El. Lt. & Cat. P. Co., Ltd., 5s, 1929, 

Iroquois Iron Co. 5s, 1914, 

Iroquois Iron Co. 5s, 1916, 

Massachusetts Gas Cos. 4£s, 1929, 

Massachusetts Gas Cos. 4§s, 1931, 

Minneapolis General Electric Co. 5s, 1934, . 

Missouri Edison Electric Co. 5s, 1927, 

N. E. Telephone & Telegraph Co. 5s, 1932, 

Omaha Elec. Lt. & Power Co. 5s, 1933, 

Portland General Electric Co. 5s, 1935, 

Providence Securities Corp. 4s, 1957, . 

San Francisco Gas & Elec. Co. 4§s, 1933, 

Sierra & San Francisco Power Co. 5s, 1949, 

Southern California Edison Co. 5s, 1939, 

Southern Power Co. 5s, 1930, . 

Texas Power & Light Co. Int. cert. 5s, 1937, 

United Electric Securities Co. 5s, 1937, 

Utica Gas & Electric Co. 5s, 1957, 

Western Electric Co. 5s, 1922, . 



78 
57 
15 
51 
23 
99 
50 
16 
50 
52 



31 
35 

53 
98 
00 



Book Value. 

$8,105 83 

5,235 55 

9.953 92 
9,170 02 

10,547 26 

5,087 21 

4,960 16 
10,000 00 

5,309 78 
11,389 10 

4,766 

5,172 

4,896 

9,161 

9,981 

5,068 

4,918 

4,850 

5,012 

4,894 
25,447 92 
11,161 82 

4,794 

7,920 

5,119 

5,417 

4,875 

4,776 29 

5,201 62 

4,678 67 

4,758 69 

4.954 73 
5,100 97 
8,026 SI 

8,000 00 
9,651 42 
11,495 74 
4,798 62 
5,050 00 
7,878 S4 
5,109 85 
9,611 43 
5,121 22 
4,599 63 
4.705 20 
5,073 94 
989 78 
3,930 40 
4,938 29 
4,887 93 
3,052 26 
6,060 00 
5,000 00 
5,044 95 
5,047 
8,521 
7,535 
4,514 
7,824 
4,932 
4,850 00 
4,958 67 
4.633 97 
4,980 56 

§634,230 07 



39 
64 
34 
09 
66 
09 



Rate. 
94 
99 
97 
90 

101 
00 
99 
98 

103 

101 
96 

101 
95 
92 
94 
95 
97 
96 

100 
91 
90 

125 
96 

101 
96 
89 
95 
97 

102 
99 
95 
99 

100 
98 

99 

101 

89 

92 

100 

98 

101 

96 

102 

97 

94 

102 

99 

97 

98 

98 

100 

101 

100 

95 

102 

sa 

92 

94 

97 

99 

97 

100 

100 

102 



00 
00 
00 
00 



00 
00 
00 
00 



Market Value. 

4,950 00 
9,70 

9,000 00 

10,100 00 
4,950 00 
4.'.<: 
9,800 
5.150 

11,110 
4,8< 
5,050 00 
4.750 00 
0,200 00 
9,400 00 
4.750 00 
4,8." 
4,800 
5,000 
4,550 

23,4< 

12,500 00 

4.MJ0 00 

8,080 00 

<>0 00 

5,340 00 

4,750 00 

4,850 00 

5,100 00 

4,950 00 

4.750 00 

4,950 00 

>0 00 

40 00 

7,920 00 
10,100 00 
10,680 00 

4,600 

5,000 

5,050 
9,600 
5,100 

4.700 

5,100 

990 

4,900 

4,900 

3.000 

6,060 00 

5,000 00 

4.750 

5,100 

7,360 
4,700 

4.950 

5,000 
5.100 



00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 



00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 



S619,540 00 



LYNN MANUFACTURERS AND MERCHANTS MUTUAL FIRE INS. CO. 51 



LYNN MANUFACTURERS AND MERCHANTS MUTUAL FIRE 
INSURANCE COMPANY, LYNN. 

Incorporated Jan. 11, 1907. Commenced business Jan. 11, 1907. 
PATRICK B. MAGRANE, President. JOHN H. MADDEN, Secretary. 

Guaranty Capital, §100,000. 

Income. 

Net premiums, ...... 

Gross interest on mortgages, $6,667.76; stocks, 
posits, $132.02, ... . 

Gross increase in book value of stocks, 



.,081; bank de- 



£8,413 53 

7,880 78 
675 00 



Total income, ..... 

Ledger assets, Dec. 31, 1911, .... 

Total, 

Disbursements. 
Net amount paid policy holders for losses, 
Expenses of adjustment and settlement of losses, 
Commissions or brokerage, .... 
Salaries, fees, etc., of officers and employees, 
Advertising, printing and stationery, 
Postage, telegrams, telephone and express, 
Maps, including corrections, .... 
Dividends to policy holders, .... 
Dividends for guaranty capital, 
Gross decrease in book value of stocks, 
All other disbursements, .... 

Total disbursements, .... 

Balance, ...... 

Ledger Assets. 
Mortgage loans on real estate, 
Book value of stocks (Schedule A), . 
Deposits in trust companies and banks on interest, 
Agents' balances, ...... 

Total ledger assets, .... 

Non-Ledger Assets. 
Interest due and accrued on mortgages, . 
Market value of stocks over book value, . 

Gross assets, ...... 

Liabilities. 

Unpaid losses, $97.77; less reinsurance, $36.70, 
Unearned premiums on outstanding risks, 

Total, 



$16,969 31 


128,660 80 


. $145,630 11 


$2,628 28 


29 78 


1,674 85 


907 00 


839 97 


52 38 


20 00 


1,433 12 


7,000 00 


70 00 


140 00 


$14,795 38 


. $130,834 73 


$94,995 00 


23,670 00 


11,088 16 


1,081 57 


. $130,834 73 


855 35 


715 00 


. $132,405 08 


$61 07 


9,627 72 



$9,688 79 



52 



LYXX MUTUAL FIRE INSURANT E CO. 






Guaranty capital, .... 
Surplus over all liabilities, 

Surplus to policy holders, 

Total liabilities, including surplus, 



§100,000 00 
22,716 29 



In force Dec. 31, 1911, . 
Written during the year, 

Total, . 
Expired and terminated, 

In force at end of year, . 
Deduct amount reinsured, 

Xet amount in force, 



Risks and Premiums. 

Risks. Cash Prem's. 

$2,022,943 00 $16,960 05 

1,057,050 00 10,078 01 



S3,079,993 00 

778,988 00 

$2,301,005 00 

107,333 00 



$27,038 06 
7,119 06 

S19,919 00 
1,006 05 



. $2,193,672 00 $18,912 95 

Miscellaneous. 
Xet premiums received from organization of company, 
Net losses paid from organization of company, 
Cash dividends paid policy holders from organization of company, 
Losses incurred during the year, ...... 

Dividends to policy holders during 1912, 20, 30 and 40 per cent. 

Schedule A. Stocks owned by the Company. 

Bank Stocks. Book Value. Rate. 

25 shares Central National, Lynn, . . . $5,750 00 230 

60 " Manufacturers' National, Lvnn, . 7,800 00 145 

57 " National City, Lynn, . . . 9,120 00 155 

Miscellaneous Stocks. 

10 shares Lynn Storage Warehouse Co., . . 1,000 00 110 



$23,670 00 



$122,716 29 
$132,405 08 



Conting't Prem's. 

$16,960 05 
10,078 01 

$27,038 06 
7,119 06 | 

$19,919 00 



$36,773 14 
8,170 59 
4,266 15 
2,689 35' 



Market Value. 

"0 00 

00 

15 00 

1,100 00 
$24,3*5 00 



LYNN MUTUAL FIRE INSURANCE COMPANY, LYNN. 

Incorporated Feb. 20, 1828. Commenced business Aug. I, 1828. 
JAMES S. NEWHALL, President. A. SHIRLEY BLACK, Secret 

Income. 
Xet premiums, ......... $13,377 44 



Gross interest on mortgages, $913.50; stocks and bonds. $2,848.01 
bank deposits, $71.66, ...... 

Gross profit on sale of bonds, ...... 

Commissions on reinsurance, ...... 

Dividends and return premiums on reinsurance, 

Total income, ....... 

Ledger assets, Dec. 31, 1911, ...... 

Total. 

Disbursements. 

Xet amount paid policy holders for losses. 
Expenses of adjustment and settlement of losses, 
Commissions or brokerage, ...... 



3.S33 17 
42 50 
34 
356 01 



$17,953 92 
79.922 86 

$97,876 78 



>4 20 

46 70 
1,557 23 



LYNN MUTUAL FIRE INSURANCE CO. 



53 



Salaries, fees, etc., of officers and employees, 
Advertising, printing and stationery, 
Postage, telegrams, telephone and express, 
Maps, including corrections, .... 
Underwriters' boards and tariff associations, 
State taxes on premiums, .... 
Dividends to policy holders, .... 
Gross loss on sale of real estate, 
All other disbursements, .... 

Total disbursements, .... 

Balance, . . . 

Ledger Assets. 
Mortgage loans on real estate, 
Book value of stocks and bonds (schedule A), . 
Cash in office, . . . . 
Deposits in trust companies and banks on interest, 
Agents' balances, ...... 

Total ledger assets, .... 

Non-Ledger Assets. 
Interest accrued on: — 
Mortgages, $287.07; bonds, $947.89, 
Market value of stocks and bonds over book value, 

Gross assets, ...... 

Assets not admitted. 
Agents' balances over three months due, . 

Admitted assets, ..... 

Liabilities. 
Unpaid losses, ...... 

Unearned premiums on outstanding risks, 
Dividends due policy holders, 
Salaries, expenses and accounts, due or accrued, 
Federal, state and other taxes, due or accrued, 

Total, 

Surplus to policy holders, .... 

Total liabilities, including surplus, 

Risks and Premiums. 

Risks. 

In force Dec. 31, 1911, . . $3,176,417 00 



Written during the year, 

Total, 
Expired and terminated, 

In force at end of year, . 
Deduct amount reinsured, 

Net amount in force, 



1,132,238 00 

$4,308,655 00 

830,352 00 

$3,478,303 00 

526,912 00 

$2,951,391 00 



$3,493 00 


363 30 


73 84 


113 00 


184 02 


122 75 


5,020 44 


169 00 


180 51 


$14,177 99 


$83,698 79 


$17,700 00 


62,532 98 


108 44 


2,417 11 


940 26 


$83,698 79 


1,234 96 


3,065 02 


$87,998 77 


95 92 


$87,902 85 


$362 62 


22,540 01 


31 35 


9 90 


42 50 



$22,986 38 
64,916 47 

$87,902 85 



Cash Prem's. Conting't Prem 's. 

$44,891 17 $44,891 17 
16,360 62 16,360 62 



$61,251 79 
11,742 04 

$49,509 75 
6,433 15 

$43,076 60 



$61,251 79 
11,742 04 

$49,509 75 



54 



MERCHANTS AND FARMERS MUTUAL FIRE INSURANCE CO. 



Miscellaneous. 
Net premiums received from organization of company, . . $3.5' 
Net losses paid from organization of company, . . . 64,462 08 

Cash dividends paid policy holders from organization of company, 152,549 38 
Losses incurred during the year, ...... 2,524 88 

Dividends to policy holders during 1912, 20, 30, 40, 50 and 60 per cent. 

Schedule A. Stocks and Bonds owned by the Company. 



Bank Stocks. 
5 shares Central National, Lvnn, 
20 " Essex Trust Co., Lynn, 
10 " Merchants National, Boston, 
20 " National City, Lynn, . 

Municipal Bonds. 
Duluth, Minn., ref. 4£s, 1914, . 
Duluth, Minn., 1st 4£s, 1941, . 
Kennebec Water District, Me., 31s, 1925, . 

Railroad Bonds. 
Alchison, Topeka & Santa Fe 1st 4s, 1995, . 
Bangor & Aroos. (Piscataquis Div.) 1st 5s, 1943, 
Bay State Street notes, 5s, 1930, 
Chicago, Burl. & Quincy gen. 4s, 1958, 
Chicago, Burl. & Quincy (111. Div.) 3§s, 1949, 
Chicago & Eastern Illinois ref. 4s, 1955, 
Chicago & Great Western 1st 5s, 1936, 
Chicago, Indiana & Southern 1st cons. 4s, 1956, 
Chicago, Rock Island & Pacific 1st 4s, 1934, 
Current River 1st 5s, 1927, 
Iowa Central 1st 5s, 1938, 
Jacksonville Electric 1st 5s, 1927, 
National of Mexico prior lien 4|s, 1957, 
Ogdensburg & Lake Champlain 1st 4s, 1948, 
Portland Terminal Co. 1st 4s, 1961, . 
Rock Island- Frisco Terminal 5s, 1927, 
Southern Pacific 1st ref. 4s, 1955, 

Miscellaneous Bonds. 
Adirondack Elec. Power Corp. 1st 5s, 1962, 
American Tel. & Tel. Co. col. tr. 4s, 1929, . 
Commonwealth Power Co. 1st 5s, 1924, 
Consumers Power Co. 1st 5s, 1936, 
New England Tel. & Tel. Co. 5s, 1932, 
Omaha Elec. Lt. & P. Co. 1st 5s, 1933, 
Southern California Edison Co. gen. 5s, 1939, 
The Securities Co. series C 4s, 
United Elec. Securities Co. 5s, 1935-42, 



Book Value. 

)0 00 

3,600 00 

1,392 50 

2,000 00 

1,002 50 

2,062 00 

912 50 



2,000 
1,080 
1,000 
2,005 
1,775 

815 
2,020 

952 
1,832 
1,000 
1,061 
1,880 

470 
2,050 

917 
2,091 

951 



00 
00 
00 
00 
00 
00 
00 
50 
50 
00 
25 
00 
98 
00 
50 



1,000 00 
7,338 75 
1,900 

980 
1,000 
3,000 
1,950 

800 
9,192 



00 
00 
00 
00 
00 
00 
50 



Rate. 
230 
238 
303 
155 

100 

103 

91 

97 

105 

100 

95 

86 

78 

107 

92 

87 

100 

98 

99 

88 

86 

92 

100 

93 

99 
89 

100 
96 

100 
95 
97 
60 

100 



Market Value. 

50 00 

4,760 00 

3,030 00 

3,100 00 

l,00'i 00 

2,060 00 

910 00 



1.940 
1,050 
1,000 
1,900 
1,720 

780 
2,140 

920 
1,740 
1,000 

1,980 
528 

1.720 
920 

2,000 
930 

990 
7,120 
2,000 

960 
1,000 

1,940 

9,000 



00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 

oo 

00 
00 
00 
00 

00 
00 
00 
00 
00 
00 
00 
00 
00 



$62,532 9S 



§65,598 00 



MERCHANTS' AND FARMERS' MUTUAL FIRE INSURANCE 

COMPANY, WORCESTER. 

Incorporated April 1, 1846. Commenced business Jan. 1, 1847. 
J. STEWART BROWN, President. HARRY S. MYRICK, Secretary. 

Income. 

Net premiums, 1.293 43 

Gross interest on mortgages, $432.50; stocks and bonds. 8S.4S7.04; 

bank deposits, $148. 11; gross rents, $3,875, . . . . 12,942 65 

Gross profit on sale of scocks and bonds, .... 4,747 19 



Total income, 
Ledger assets, Dec. 31, 1911, 



$101,983 27 
273.4S4 39 



Total, 



8375,467 66 



MERCHANTS AND FARMERS MUTUAL FIRE INSURANCE CO. 



55 



Disbursements. 

Net amount paid policy holdeis for losses, 
Expenses of adjustment and settlement of losses, 
Commissions or brokerage, .... 

Salaries and expenses of special and general agents. 
Salaries, fees, etc., of officers and employees, . 
Rents, ....... 

Advertising, printing and stationery, 
Postage, telegrams, telephone and express, 
Legal expenses, ...... 

Furniture and fixtures, .... 

Maps, including corrections, .... 

Underwriters' boards and tariff associations, . 

Fire department, patrol and salvage corps fees and taxes, 

Inspection and surveys, .... 

Repairs and expenses on real estate, 

Taxes on real estate, . • 

State taxes on premiums, .... 

Insurance department licenses and fees, , 

Other licenses, fees and taxes, 

Dividends to policy holders, .... 

Agents' balances charged off, 

All other disbursements, .... 

Total disbursements, .... 

Balance, ...... 

Ledger Assets. 
Book value of real estate, .... 

Mortgage loans on real estate, 

Book value of stocks and bonds (Schedule A), 

Cash in office, ...... 

Deposit in trust companies and banks on interest, 
Agents' balances, ..... 

Total ledger assets, ....... 

Non-Ledger Assets. 
Interest due and accrued on : — 

Mortgages, $109.42; bonds, $3,042.48; 

Rents accrued on company's property, ..... 
Market value of real estate over book value, .... 
Due from other companies, ....... 

Gross assets, ........ 

Assets not admitted. 

Agents' balances over three months due, . . $113 53 

Accrued interest in default, 600 '00 

Book value of stocks and bonds over market value, 10,544 52 

Due from unauthorized company, . . . . 2 05 

Admitted assets, ........ 



$36,262 84 

893 86 

15,458 96 

1,046 45 

8,484 10 

676 25 

1,627 26 

430 88 

156 19 

49 91 

795 10 

375 96 

204 80 

1,268 03 

133 45 

743 80 

1,338 37 

521 95 

834 09 

27,644 05 

62 02 

669 13 

$99,677 45 

$275,790 21 



$57,482 35 
8,650 00 

195,233 52 

278 50 

5,050 36 

9,095 48 

$275,790 21 



3,151 90 
325 00 

2,517 65 
190 53 

$281,975 29 



11,260 10 
$270,715 19 



56 merchants' and farmers' mutual FIRE INSURANCE CO. 



Liabilities. 

Unpaid losses, including $1,464.38 resisted, §4,882.88; less rein- 
surance, $390.13, ..... 
Unearned premiums on outstanding risks, 
Dividends due policy holders, 
Salaries, expenses and accounts, due or accrued, 
Federal, state and other taxes, due or accrued, 
Due for return premiums, .... 

Total, . 

Surplus to policy holders, .... 



$4,492 


75 


128. 


35 


1,201 


70 


267 


28 




51 


685 


34 



Total liabilities, including surplus, 



In force Dec. 31, 1911, 
Written during the year, 

Total, . 
Expired and terminated, 

In force at end of year, 
Deduct amount reinsured, 

Net amount in force, 



Risks and Premiums. 

Risks. 

. $21,390,459 00 
6,748,003 00 



Cash Prem's. 

§280,933 87 
90,360 94 



828,138,462 00 
7,275,457 00 

$20,863,005 00 
650,186 00 



$371,294 81 
104,982 89 

$266,311 92 
8,657 45 



$135,861 93 
134,853 26 

$270,715 19 



Conting't Prem's. 

8280,933 87 
90,360 94 

$371,294 81 
104,982 89 

$266,311 92 



$20,212,819 00 $257,654 47 



Miscellaneous. 

Net premiums from organization of company, . . . 84,566,517 32 

Net losses paid from organization of company, . . . 2,514,989 45 

Cash dividends paid policy holders from organization of company, 1 ,400,69 1 34 

Losses incurred during the year, ...... 37,599 73 

Dividends to policy holders during 1912, 20, 30, and 40 per cent. 

Schedule A. Stocks and Bonds owned by the Company. 

Railroad Stocks. 

7 shares Union Pacific, preferred, 

Bank Stocks. 

8 shares Worcester Trust Co., . 

Miscellaneous Stocks. 
15 shares American Tel. & Tel. Co., . 
42 " Worcester Gas Light Co., 

Municipal Bonds. 
Memphis, Tenn., 4§s, 1945, 
New York, N. Y., corporate stock 44,s, 1960, 
Omaha, Neb., 4|s, 1932, .... 

Seattle, Wash., 4^s, 1931 

Railroad Bonds. 
Atch., Top. & Santa Fe conv. 4s, 1960, 
Atch., Top. & Santa Fe (Tr. Sh. Line) 4s, 1958, 
Bangor & Aroostook 4s, 1951, 
Berkshire Street 1st 5s, 1922, . 
Boston & Albany 4s, 1935, 
Boston & Worcester -St. 1st 4£s, 1923, 
Buffalo & Susquehanna 1st ref. 4s, 1951, 
Chicago, Rock Island & Pacific 1st 4s, 1934, 
Chicago & Western Indiana 4s, 1952, . 
Duluth, Missabe & Northern gen. 5s, 1941, 
Metropolitan St., Kansas City, Mo., 5s, 1913, 
Middlesex & Boston Street ref. 4£s, 1932, . 



Book Value. 


Rate. 


Market Value. 


S725 00 


92 


$644 00 


1,320 00 


225 


1,800 00 


2,47S 27 


141 


2.115 00 


8,935 00 


295 


^0 00 


5,088 50 


101 


5,050 00 


5,068 75 


100 


5,000 00 


5,133 00 


102 


5.100 00 


10,200 00 


102 


10,200 00 


6,330 00 


103 


6.1S0 00 


6,522 50 


91 


6,370 00 


9,700 00 


81 


8,100 00 


5,200 00 


102 


5.100 00 


14,550 00 


95 


14.250 00 


15,556 25 


95 


15.200 00 


4,950 00 


39 


1.950 00 


9,775 00 


87 


00 


9,900 00 


89 


8,900 00 


5,250 00 


105 


5.250 00 


2.940 00 


95 


50 CO 


4,912 50 


97 


50 00 



MERRIMACK MUTUAL FIRE INSURANCE CO. 



57 



N. Y., N. H. & Hartford conv. 6s, 1948, 

P&re Marquette 1st 4s, 1943, 

Pere Marquette cons. 4s, 1951, . 

Southern Indiana 1st 4s, 1951, . 

St. Louis, Iron Mt. & Southern 4s, 1933, 

Worcester Consolidated Street 5s, 1927, 

Worcester & Southbridge Street 4£s, 1922, 

Miscellaneous Bonds. 
American Tel. & Tel. Co. col. trust 4s, 1929, 



Book Value. 


Rate. 


Market Value. 


$6,698 75 


125 


$6,250 00 


4,775 00 


78 


3,900 00 


4,750 00 


72 


3,600 00 


14,100 00 


81 


12,150 00 


9,525 00 


83 


8,300 00 


10,500 00 


105 


10,500 00 


4,950 00 


93 


4,650 00 


5,400 00 


89 


5,340 00 


$195,233 52 


$184,689 00 



MERRIMACK MUTUAL FIRE INSURANCE COMPANY, ANDOVER. 

Incorporated Feb. 7, 1828. Commenced business April 8, 1828. 
* BURTON S. FLAGG, President. * FREDERIC G. MOORE, Secretary. 

Income. 

Net premiums, . . $153,708 35 

Gross interest on mortgages, $4,905.29; collaterals, $137.50; 

stocks and bonds, $4,962.97; bank deposits, $73.73, . . 10,079 49 

Borrowed money, ........ 3,500 00 

Sale of bonds previously charged off, . . . . . 1,612 58 

Total income, ..... 

Ledger assets, Dec. 31, 1911, .... 

Total, 

Disbursements. 
Net amount paid policy holders for losses, 
Expenses of adjustment and settlement of losses, 
Commissions or brokerage, 
Agency expenses, .... 
Salaries, fees, etc., of officers and employees, 
Rents, ..... 

Advertising, printing and stationery, 
Postage, telegrams telephone and express, 
Legal expenses, .... 
Furniture and fixtures, . 
Maps, including corrections, . 
Underwriters' boards and tariff associations, 
Fire department, patrol and salvage corps fees and 
Inspections and surveys, .... 

State taxes on premiums, .... 
Insurance department licenses and fees, . 
Other licenses, fees and taxes, 
Dividends to policy holders, .... 
Agents' balances charged off, .... 
Borrowed money repaid, .... 

Interest on borrowed money, .... 
All other disbursements, .... 

Total disbursements, .... 

Balance, ...... 





$168,900 42 


. 


232,254 51 


. 


$401,154 93 




$57,867 47 




1,419 09 




25,816 14 




151 44 




12,714 09 




810 00 




1,260 40 




830 76 




97 44 




590 76 




263 51 




439 51 


ixes. . 


176 41 




1,356 46 




1,637 15 




552 00 




662 83 




28,149 66 




263 97 




3,500 00 




50 52 




342 41 




. $138,952 02 




. $262,202 91 



Elected since December 31, 1912. 






58 



MERRIMACK MUTUAL FIRE INSURANCE CO. 



Ledger Assets. 
Mortgage loans on real estate, 
Loans secured by collateral (Schedule A), 
Book value of stocks and bonds (Schedule B), . 
Cash in office, ...... 

Deposits in trust companies and banks on interest, 
Agents' balances, .... 

Total ledger assets, ...... 

Non-Ledger Assets. 
Interest due and accrued on: — 
Mortgages, $1,238.19; bonds, $1,539.16; collateral loans, $21.88, 
Market value of stocks and bonds over book value, . 

Gross assets, ........ 

Assets not admitted. 
Agents' balances over three months due, .... 

Admitted assets, ....... 

Liabilities. 
Unpaid losses, ...... 

Unearned premiums on outstanding risks, 
Dividends due policy holders, 
Salaries, expenses and accounts, due or accrued, 
Federal, state and other taxes, due or accrued, 
Due for return premiums, .... 

Total, 

Surplus to policy holders, .... 

Total liabilities, including surplus, 



. $111,900 00 


4,000 


00 


116,922 


13 


4.7 


91 


6.742 


14 


17,855 


73 


1262,202 


91 


2,799 


23 


120 87 


$265,123 


01 



In force Dec. 31, 1911, . 
Written during the year, 

Total, . 
Expired and terminated, 

In force at end of year, . 
Deduct amount reinsured, 

Net amount in force, 



Risks and Premiums. 

Risks. 

. $29,545,586 00 
. 13,543,752 00 



Cash Prem's. 

$351,087 62 
173,575 46 



267 07 



$264,855 94 



$3,000 00 

179,439 36 

2.258 71 

500 00 

1.500 00 

343 52 

si.s7.041 59 
77.814 35 

$264,855 94 



S43,0S9,338 00 
11,301,397 00 

$31,787,941 00 
2,662,613 00 



$524,663 08 
153,310 69 

$371,352 39 
32,119 28 



Conting't Prem's. 

$351,087 62 
173,575 46 

$524,663 08 
153,310 69 

$371,352 39 



$29,125,328 00 $339,233 11 



Miscellaneous. 
Net premiums received from organization of company, 
Net losses paid from organization of company, 
Cash dividends paid policy holders from organization of company, 
Losses incurred during the year, ...... 

Dividends to policy holders during 1912, 20 per cent. 



53,953,709 07 

1.625.130 77 

1,405,6S7 36 

55.753 $5 



MIDDLESEX MUTUAL FIRE INSURANCE CO. 



59 



Schedule A. Securities held as Collateral. 



3 shares Essex Co., Lawrence, . 
17 " Smith & Dove Mfg. Co., pref. 
26 " Smith & Dove Mfg. Co., com. 



Schedule B. Stocks and Bonds 

Bank Stocks. 
16 shares Andover National, . . . . 

8 " Merchants Trust Co., Lawrence, . 

Miscellaneous Stocks. 
89 shares American Tel. & Tel. Co., . 

Municipal Bonds. 
Andover, Mass., 4s, 1919-28, . 
Railroad Bonds. 
Atchison, Topeka & Santa Fe 1st 4s, 1958, . 
Bangor & Aroostook equip. 5s, 1910, . 
Boston & Albany 4s, 1933, . 

Boston Elevated 4|s, 1937 

Chicago & Northwestern 5s, 1929, 
Chicago Railways 1st 5s, 1927, . . . . 

Chicago, Wisconsin & Minn. 1st 6s, 1916, . 
Illinois Central 1st (West, lines) 4s, 1951, . 
New York, Chicago & St. Louis 4s, 1931, . 
New York, New Haven & Hartford 4s, 1956, 
New York, New Haven & Hartford 5s, 1913, 
Southern Pacific 1st ref. 4s, 1955, 
Worcester Consolidated Street 5s, 1927, 

Miscellaneous Bonds. 
American Tel. & Tel. Co. 4s, 1929, . 
Pacific Tel. & Tel. Co. 5s, 1937, 





Company '8 


Loaned 




Market Value. 


Thereon. 


B m 


$570 00 ) 
1,700 00 \ 






$4,000 00 




2,080 00 J 






$4,350 00 


$4,000 00 


OWNED BY THE 


Company. 


Book Value. 


Rate. 


Market Value. 


$1,600 


00 


165 


S2,640 00 


1,200 


00 


153 


1,224 00 


11,037 


13 


141 


12,549 00 


15,000 


00 


100 


15,000 00 


9,525 


00 


91 


9,100 00 


2,000 


00 


100 


2,000 00 


3,075 


00 


95 


2,850 00 


10,000 


00 


96 


9,600 00 


4,000 


00 


106 


4,240 00 


3,030 


00 


99 


2,970 00 


5,000 


00 


103 


5,150 00 


1,940 


00 


92 


1,840 00 


9,400 


00 


88 


8,800 00 


9,562 


50 


90 


9,000 00 


4,975 


00 


100 


5,000 00 


9,450 


00 


93 


9,300 00 


2,100 


00 


105 


2,100 00 


11,087 


50 


89 


10,680 00 


2,940 


00 


100 


3,000 00 


$116,922 


13 


$117,043 00 



MIDDLESEX MUTUAL FIRE INSURANCE COMPANY, CONCORD. 

Incorporated March 3, 1826. Commenced business March 29, 1826. 
PRESCOTT KEYES, President. ADAMS TOLMAN, Secretary. 

Income. 

Net premiums, ......... 

Gross interest on mortgages, $1,655; stocks and bonds, $22,516.25; 
bank deposits, $52.21; gross rents, including $1,000 for com- 
pany's own occupancy, $1,816.30, ..... 

Return premiums on reinsurance, ...... 

Borrowed money, ......... 



Total income, ..... 

Ledger assets, Dec. 31, 1911, .... 

Total, 

Disbursements. 
Net amount paid policy holders for losses, 
Expenses of adjustment and settlement of losses, 
Commissions or brokerage, .... 

Agency expenses, ...... 

Salaries, fees, etc., of officers and employees, 
Rents, for company's own occupancy, 



$201,179 58 



26,039 76 
2,795 91 
5,000 00 



$235,015 25 
620,446 02 

$855,461 27 



$88,893 98 

1,375 26 

29,664 40 

236 42 

14,133 38 

1,000 00 



60 



MIDDLFSEX MUTUAL FIRE INSURANCE CO. 



Advertising, printing and stationery, 

Postage, telegrams, telephone and express, 

Legal expenses, ....... 

Maps, including corrections, ..... 

Underwriters' boards and tariff associations, 

Fire department, patrol and salvage corps fees and taxes, 

Inspections and surveys, 

Repairs and expenses on real estate, 

Taxes on real estate, 

State taxes on premiums, 

Insurance department licenses and fees. 

Other licenses, fees and taxes, 

Dividends to policy holders, . 

Gross loss on sale or maturity of bonds, 

Borrowed money repaid, 

Interest on borrowed money, . 

All other disbursements, . 

Total disbursements, 

Balance, .... 

Ledger Assets. 
Book value of real estate, ..... 

Mortgage loans on real estate, .... 

Book value of stocks and bonds (Schedule A), . 
Cash in office, ....... 

Deposits in trust companies and banks not on interest, 
Agents' balances, ....... 

Total ledger assets, ........ 

Non-Ledger Assets. 

Interest due and accrued on : — 

Mortgages, $530.19; bonds, $5,497.52, 

Rents due and accrued on company's property, 

Market value of real estate over book value, .... 

Gross assets, ......... 

Assets not admitted. 

Agents' balances over three months due, . . S210 31 

Book value of stocks and bonds over market value, . 1,924 75 



Admitted assets, ...... 

Liabilities. 

Unpaid losses, $8,876.21; less reinsurance, $1,002.50, 

Unearned premiums on outstanding risks, 

Dividends due policy holders, .... 

Salaries, expenses and accounts, due or accrued, 

Federal, state and other taxes, due or accrued, 

Due for return premiums, $887.60; reinsurance, $624.29, 

Total, 

Surplus to policy holders, ..... 

Total liabilities, including surplus, 



$1,232 78 

790 12 

205 04 

1,153 33 

507 87 

197 41 

1,468 58 

696 32 

431 68 

2,300 78 

348 00 

1,752 70 

98,455 33 

596 14 

5,000 00 

56 25 

1,414 76 

8251,910 53 
$603,550 74 

2,397 SO 

32,100 00 

509,324 75 

1,836 56 
21,791 07 
16,100 56 

$603,550 74 



6,027 71 

432 50 

16,602 20 

$626,613 15 



2,135 06 
$624,478 09 



$7,873 71 

340,491 53 

2.425 45 

170 15 

1,818 25 

1.511 89 

$354,290 98 
270,187 11 

$624,47S 09 



MIDDLESEX MUTUAL FIRE INSURANCE CO. 



61 



In force Dec. 31, 1911, . 

Written during the year. 

Total, . 
Expired and terminated, 

In force at end of year, . 
Deduct amount reinsured, 

Net amount in force, 



Risks and Premiums. 

Risks. 

$49,356,897 00 
15,091,224 00 



Cash Prem's. 

$719,168 96 
222,914 18 



Conting't Prem's. 

$719,168 96 
222,914 18 



$64,448,121 00 
15,275,120 00 

$49,173,001 00 
1,880,019 00 



$942,083 14 $942,083 14 
229,603 95 229,603 95 



$712,479 19 
29,400 37 



$712,479 19 



$47,292,982 00 $683,078 82 



Miscellaneous. 
Net premiums received from organization of company, . . $5,884,579 23 
Net losses paid from organization of company, . . . 2,235,000 41 

Cash dividends paid policy holders from organization of company, 2,502,070 52 
Losses incurred during the year, ...... 93,908 17 

Dividends to policy holders during 1912, 20, 30, 40, 50 and 60 per cent. 



Schedule A. Stocks and Bonds owned by the Company. 



Railroad Stocks. 
57 shares Boston & Albany, 
100 " Fitchburg, 

Bank Stocks. 
33 shares Concord National, 

Miscellaneous Stocks. 
50 shares Massachusetts Real Estate Co., 
300 " Pullman Co. . 

State and Municipal Bonds. 
Belmont, Mass., 3^s, 1913, 
Belmont, Mass., 3^s, 1914, 
Concord, Mass., 4s, 1913, . 
Holyoke, Mass., 4s, 1927, . 
Lynn, Mass., 4s, 1918, 
Massachusetts 3s, 1930, 
New Britain, Conn., 4s, 1936-39, 
Norwich, Conn., 4s, 1931, 
Pawtucket, R. I., 4s, 1929, 
Pittsfield, Mass., 3£s, 1915, 
Stamford, Conn., 4s, 1938, 
Woonsocket, R. I., 4s, 1924, 

Railroad Bonds. 
Belt R.R. & Stock Yards of Indianapolis 4s, 1939, 
Boston & Albany 4s, 1933, 
Boston & Albany 4s, 1913, 
Boston & Lowell 3|s, 1923, 
Boston & Maine 4£s, 1944, 
Boston & Northern Street 4s, 1954, 
Chicago, Burlington & Quincy 4s, 1921, 
Chicago, Burlington & Quincy 3|s, 1949, 
Chicago Jet. Ry. & Un. Stk. Yds. Co. 4s, 1940, 
Chicago & Northwestern — Boyer Val. 3|s, 1923, 
Cincinnati, Hamilton & Davton 5s, 1942, 
Cleveland & Pittsburg 3 is, 1948, 
Cleveland & Pittsburg 3|s, 1950, 
Concord & Montreal cons. 4s, 1920, 
Connecticut & Passumpsic 4s, 1943, 
Erie & Pittsburg 3§s, 1940, 
Hamilton, Ontario, Street 4|s, 1928, 
Jamestown, Franklin & Clearfield 4s, 1959, 
Lake Shore & Michigan Southern 1st 3§s, 1997, 
Long Island (North Shore Branch) 5s, 1932, 
Mohawk & Malone 4s, 1991, 



Book Value. 

85,757 75 

8,660 00 

3,300 00 

1,000 00 
31,093 64 

2,000 00 

1,000 00 

1,000 00 
10,950 00 

6,060 00 
10,137 50 
11,293 75 

4,059 20 
10,450 

4,931 

5,092 

2,022 



00 
25 
00 
50 



9,750 00 

10,050 00 

10,557 50 

5,006 25 



11,775 

4,625 

3,025 

3,000 

14,800 

10,225 

10,100 

21,000 

10,575 

25,150 

26,600 

10,400 

10,350 

4,750 

10,912 

5,762 

11,062 



00 
00 
91 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
50 
50 
50 



Rate. 
214 
121 

200 

34 
165 

100 
99 
100 
101 
99 
88 
98 
99 
98 
99 
98 
98 

97 
95 

100 
93 
98 
90 
99 
86 
88 
93 

102 
90 
90 
98 
99 
91 
93 
94 
88 

104 
99 



Market Value. 

812,198 00 

12,100 00 

6,600 00 

1,700 00 
49,500 00 



2,000 

990 

1,000 

10,100 
5,940 
8,800 

10,780 
3,960 
9,800 
4,950 
4,900 
1,960 



00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 



9,700 00 

9,500 00 
10,000 00 

4,650 00 

9,800 00 

4,500 00 

2,970 

3,440 
13,200 

9,300 
10,200 
18,000 

9,000 
24,500 
24,750 

9,100 

9,300 

4,700 

8,800 

5,200 

9,900 



00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 



62 



MUTUAL FIRE ASSURANCE CO. 



Narragansett Pier 4s, 1916, 

New England 4s, 1945, .... 

New York Central & Hudson River 3|s, 1997, 

New York, New Haven & Hartford 3|s, 1947, 

New York, Ontario & Western 4s, 1992, 

Norwich & Worcester 4s, 1927, . 

Old Colony 4s, 1925, 

Providence & Worcester 4s, 1947, 

Republican Valley 6s, 1919, 

St. Paul, Minneapolis & Manitoba 4£s, 1933, 

Sioux City & Pacific 3§s, 1936, . 

Terminal Association of St. Louis 45S, 1939, 

United Tr. & El. Co. of Providence 5s, 1933, 

West End Street 4s, 1915, 

West End Street 4s, 1932, 

Miscellaneous Bonds. 
American Telephone & Telegraph Co. 4s, 1929, 



50 
50 
50 
00 



Book Value. 

$10,375 00 

10,107 
4,587 

15,262 

15,325 

10,575 00 

5,262 50 

6,060 00 

2,730 00 

21,825 00 

9,650 00 

13,630 00 

11,262 50 

10,162 50 

5,225 00 

9,000 00 
§509,324 75 



Rat*. 

98 

98 

87 

80 

95 

98 

98 

98 

102 

105 

88 

104 

104 

99 

94 

89 



00 
00 
00 



Market Value. 
$9,800 00 

9,800 00 

4,350 00 
12,000 00 
14,250 00 

9,800 00 

4,900 

2,652 

21,000 00 

00 

12,480 00 

10,400 00 

9,900 00 

4,700 00 

8,900 00 
$507,400 00 



MUTUAL FIRE ASSURANCE COMPANY, SPRINGFIELD. 

Incorporated Feb. 23, 1827. Commenced business July 23, 1827. 
GEO. B. HOLBROOK, President. HERBERT E. HUIE, Secretary. 

Income. 

Net premiums, $2 1.530 27 

Gross interest on mortgages, $3,613.88; stocks and bonds, $8,180; 
bank deposits, $193.98, 11,987 86 



Total income, ..... 

Ledger assets, Dec. 31, 1911, .... 

Total, 

Disbursements. 
Net amount paid policy holders for losses, 
Expenses of adjustment and settlement of losses, 
Salaries, fees, etc., of officers and employees, 
Rents, ...... 

Advertising, printing and stationery, 
Postage, telegrams, telephone and express, 
Maps, including corrections, . 
Underwriters' boards and tariff associations, 
State taxes on premiums, 
Other licenses, fees and taxes, 
Dividends to policy holders, . 
All other disbursements, 

Total disbursements, 

Balance, ..... 

Ledger Assets. 
Mortgage loans on real estate, 
Book value of stocks and bonds (Schedule A), . 
Cash in office, ...... 

Deposits in trust companies and banks on interest, 
Bills receivable, ...... 

Total ledger assets, .... 



833,518 13 
247,937 08 

$281,455 21 



$8,421 63 

&4 75 

4,195 50 

600 00 

17 83 

92 22 

89 50 

37 50 

198 49 

321 95 

18,787 38 

126 51 

$32,953 26 

$248,501 95 

$71,000 00 

169,087 11 

6 29 

8,109 72 

4S S3 

$248,501 95 



MUTUAL FIRE ASSURANCE CO. 



63 



Non-Ledger Assets. 

Interest accrued on : — 
Mortgages, $1,016.46; bonds, $1,319.56, . 
Market value of stocks and bonds over book value, 

Gross assets, ...... 

Liabilities. 

Unearned premiums on outstanding risks, 

Dividends due policy holders, 

Federal, state and other taxes, due or accrued, 

Total, 

Surplus to policy holders, .... 

Total liabilities, including surplus, 



$2,336 02 
23,966 89 

$274,804 86 



$55,390 88 

597 70 

74 28 

856,062 86 
218,742 00 

$274,804 86 



In force Dec. 31, 1911, . 
Written during the year, 

Total, . 
Expired and terminated, 

In force at end of year, . 



Risks and Premiums. 

Risks. Cash Prem's. Conting't Prem's. 

. $6,386,525 00 $108,884 37 $108,884 37 

1,338,400 00 23,796 55 23,796 55 



$7,724,925 00 
1,419,500 00 



$132,680 92 $132,680 92 
24,494 72 24,494 72 



$6,305,425 00 $108,186 20 $108,186 20 



Miscellaneous. 
Losses incurred during the year, ...... $^ 

Dividends to policy holders during 1912, 90 per cent. 

Schedule A. Stocks and Bonds owned by the Company. 

Railroad Stocks. 
100 shares Boston & Albany, 

69 " Chicago, Burlington & Quincy, 

20 " Holyoke & Westfield, 
336 " New York Central & Hudson River, 
Bank Stocks. 

25 shares Chapin National, Springfield, 

61 " Chicopee National, Springfield, 

50 " Hadley Falls National, Holyoke, 

50 " National Bank of Commerce, Boston, 

25 " Springfield National, 
Railroad Bonds. 
Boston & Albany 4s, 1913, 
Boston Elevated 44s, 1937, 
Boston & Maine 4s, 1926, 
Chesapeake & Ohio 5s, 1939, 
Chicago, Burlington & Quincy 3^s, 1949, 
Connecticut River 3£s, 1923, 
Detroit Southern (Ohio So. Div.) 4s, 1941, 
Holyoke Street 5s, 1915, . 
Illinois Central purchased lines 3|s, 1952, 
Lake Shore & Michigan Southern 4s, 1931, 
Long Island unified 4s, 1949, 
N. Y. Cent. & Hud. R. (Lake Sh. col.) 3£s, 
N. Y., N. H. & Hartford 4s, 1955, 
Norfolk & Southern 5s, 1954, . 
Phila., Wilmington & Baltimore 4s, 1932, 
Reading (Jersey Central col.) 4s, 1951, 



1,421 63 





Book Value. 


Rate. 


Market Value. 


. 


$11,073 


25 


214 


$21,400 00 


. , 


8,364 


85 


213 


14,697 00 




3,740 


00 


255 


5,100 00 


ver, . 


37,750 


92 


109 


36,624 00 




2,875 


00 


115 


2,875 00 




6,100 


00 


188 


11,468 00 




5,050 


00 


145 


7,250 00 


ston, 


5,000 


00 


225 


11,250 00 


• 


3,000 


00 


210 


5,250 00 




10,650 


00 


100 


10,000 00 




2,030 


00 


96 


1,920 00 




4,000 


00 


94 


3,760 00 




4,040 


00 


110 


4,400 00 




3,805 


00 


86 


3,440 00 




2,030 


00 


94 


1,880 00 




3,300 


00 


59 


1,770 00 




6,300 


00 


101 


6,060 00 




2,801 


25 


84 


2,520 00 




4,512 


50 


92 


4,600 00 




1,900 


00 


91 


1,820 00 


1998, 


8,000 


00 


79 


6,320 00 




5,012 


50 


90 


4,500 00 




1,960 


00 


99 


1,980 00 




4,040 


00 


99 


3,960 00 




2,865 


00 


96 


2,880 00 



64 



MUTUAL PROTECTION FIRE INSURANCE CO. 



Southern equipment 4^s, 1921, . 
SpringBeld Street 4s, 1923, 
Woronoco Street 5s, 1920, 

Miscellaneous Bonds. 
American Tel. & Tel. Co. 4s, 1929, 
American Writing Paper Co. 5s, 1919, 



Book Value. 

$3,000 00 

3,064 84 

5,312 00 


Rate. 

100 

96 

100 


Market Value. 

S3, 000 00 

2,880 00 

5,000 00 


2,970 00 
1,540 00 


89 
89 


2,670 00 
1,780 00 


$169,087 11 


$193,054 00 



MUTUAL PROTECTION FIRE INSURANCE COMPANY, 

CHARLESTOWN. 

Incorporated April 10, 1861. Commenced business July 15, 1864. 
GEO. H. PENDERGAST, President. FRANK V. NOYES, Secretary. 

Office, Thompson Square. 

Income. 
Net premiums, ....... 

Gross interest on mortgages, SI, 335. 32; stocks and 

$3,846.25; bank deposits, $697.87, 
Dividends and return premiums on reinsurance, 
Dividend, National Bank of Republic, in liquidation, 

Total income, ...... 

Ledger assets, Dec. 31, 1911, ..... 



Total, 



Disbursements. 



Net amount paid policy holders for losses, 
Expenses of adjustment and settlement of losses, 
Commissions or brokerage, ..... 

Salaries, fees, etc., of officers and employees, 

Rents, ......... 

Advertising, printing and stationery, 

Postage, telegrams, telephone and express, 

Legal expenses, ....... 

Furniture and fixtures, ...... 

Maps, including corrections, ..... 

Underwriters' boards and tariff associations, 

Fire department, patrol and salvage corps fees and taxes, 

Inspections and surveys, ..... 

State taxes on premiums, ..... 

Insurance department licenses and fees, . 

Other licenses, fees and taxes, .... 

Dividends to policy holders, ..... 

Interest on borrowed money, ..... 

All other disbursements, ..... 

Total disbursements, ..... 

Balance, ....... 

Ledger Assets. 

Mortgage loans on real estate, .... 

Book value of stocks and bonds (Schedule A), . 
Cash in office, ....... 



^rf^T^ f\ G 


$52,856 56 


5,879 44 


1,437 27 




230 00 


S60.403 27 




147,550 14 


-07,953 41 


$27,009 35 




552 23 




9,361 49 




7,210 00 




875 00 




582 79 




517 15 




115 00 




94 06 




430 95 




154 22 




251 48 




347 67 




601 86 




1S4 00 




164 10 




12.914 58 




1.429 23 




202 58 


.$62,997 74 


$144,955 67 


28,150 00 


92.260 29 




5S0 09 



MUTUAL PROTECTION FIRE INSURANCE CO. 



65 



Deposits in trust companies and banks on interest, 
Agents' balances, ...... 

Total ledger assets, .... 

Non-Ledger Assets. 

Interest due and accrued on : — 
Mortgages, $479.33; bonds, $616.15, 
Furniture, fixtures and safes, .... 
Supplies, printed matter and stationery, . 

Gross assets, . 

Assets not admitted. 
Supplies, printed matter and stationery, . 
Furniture, fixtures and safes, .... 
Agents' balances over three months due, . 
Book value of stocks and bonds over market value, 



Admitted assets, ..... 

Liabilities. 

Unpaid losses, $4,193.48; less reinsurance, $412.25, 
Unearned premiums on outstanding risks, 
Interest due or accrued, .... 

Dividends due policy holders, 
Salaries, expenses and accounts, due or accrued, 
Federal, state and other taxes, due or accrued, 
Borrowed money, ...... 

Total, 

Surplus to policy holders, .... 

Total liabilities, including surplus, 



In force Dec. 31, 1911, . 
Written during the year, 

Total, . 
Expired and terminated, 
i 

In force at end of year, . 
Deduct amount reinsured, 

Net amount in force, 



Risks and Premiums. 

Risks. 

. $9,561,137 00 
4,585,737 00 



$14,146,874 00 
3,588,954 00 

$10,557,920 00 
1,249,497 00 



$500 00 

2,500 00 

745 18 

3,505 29 



Cash Prem's. 

$146,769 11 
61,082 33 



$207,851 44 
59,123 45 

$148,727 99 
17,007 73 



1,308,423 00 $131,720 26 



$18,429 16 
5,536 13 

$144,955 67 



1,095 48 

2,500 00 

500 00 

$149,051 15 



7,250 47 



$141,800 68 



$3,781 23 

64,784 96 

109 06 

676 02 

319 97 

349 00 

33,000 00 

$103,020 24 

38,780 44 

$141,800 68 



Conting't Prem's. 

$146,769 11 
61,082 33 

$207,851 44 
59,123 45 

$148,727 99 



Miscellaneous. 

Net premiums received since 1878, $658,778 94 

Net losses paid since 1878, ' . . 237,352 49 

Cash dividends paid policy holders since 1878, .... 191,354 18 

Losses incurred during the year, . . . . . . 26,617 11 

Dividends to policy holders during 1912, 20 and 25 per cent. 






66 



NEWBURYPORT MUTUAL FIRE INSURANCE CO. 



Railroad Stocks. 
5 shares Atch., Topeka & Santa Fe, pref., 
25 " New York Central & Hudson River, 
17 " New York, New Haven & Hartford, 
232 " Pennsylvania, 

Miscellaneous Stocks. 
63 shares American Tel. & Tel. Co., . 
37 " Charlestown Gas & Electric Co., 

State and Municipal Bonds. 
Maiden, Mass., 4s, 1914, . 
Massachusetts 3§s, 1931, . 
Massachusetts 3s, 1941, 
Middletown, Conn., 3£s, 1925, 
New York, N. Y., 4s, 1956, 
Providence, R. I., 3s, 1930, 
Springfield, Mass., 3£s, 1920, 
Waterbury, Conn., 3*s, 1926, 

Railroad Bonds. 
New York, New Haven & Hartford 6s, 194S, 
New York, New Haven & Hartford 3|s, 1954, 

Miscellaneous Bonds. 
American Telephone & Telegraph Co. 4s, 1929, 



OWNED BY THE 


Company. 


Book Value. 


Rate. 


Market Value. 


$255 00 


102 


$510 00 


3,173 13 


109 


2,725 00 


3,219 00 


128 


2,176 00 


15,089 38 


122 


14,1 


8,735 00 


141 


8,8- 


2,833 00 


254 


4,69!) 00 


5,068 75 


100 


5,000 00 


10,168 00 


94 


9,400 00 


6,326 25 


84 


30 00 


7,710 00 


94 


7,520 00 


3,825 00 


94 


3,700 00 


13,612 50 


87 


13,050 00 


988 75 


96 


960 00 


962 50 


94 


940 00 


400 00 


125 


500 00 


2,915 83 


79 


2,370 00 


6,978 20 


89 


6,230 00 


$92,260 29 


$88,755 00 



NEWBURYPORT MUTUAL FIRE INSURANCE COMPANY, 

NEWBURYPORT. 

Incorporated Feb. 10, 1829. Commenced business May 1, 1829. 
WILLIAM R. JOHNSON, President. EDWARD OSGOOD, Secretary. 

Income. 
Net premiums, ........ 

Gross interest on mortgages, $45; stocks and bonds, $1,982.30 

bank deposits, $213.70, 

Gross profit on sale of stocks, ...... 

Sale of rights, ........ 

Policy fees, ......... 

From all other sources, ....... 



Total income, ..... 

Ledger assets, Dec. 31, 1911, .... 

Total, 

Disbursements. 

Net amount paid policy holders for losses, 
Expenses of adjustment and settlement of losses, 
Salaries, fees, etc., of officers and emplo3 r ees, 
Rents, ........ 

Advertising, printing and stationery, 
Postage, telegrams, telephone and express, 
State taxes on premiums, .... 

Dividends to policy holders, .... 

Gross decrease in book value of bonds, 

All other disbursements, .... 

Total disbursements, .... 

Balance, ...... 



$4,114 08 

2,241 00 

380 00 

6 85 

121 74 

75 00 



$6,938 67 
46,194 62 

$53,133 29 



$222 11 
6 00 

749 75 

200 00 

53 25 

6 76 

39 44 

4,075 03 

2 50 

59 77 

$5,414 61 

$47.71S 68 



NEWBURYPORT MUTUAL FIRE INSURANCE CO. 



67 



Ledger Assets. 
Mortgage loans on real estate, .... 

Book value of stocks and bonds (Schedule A), . 
Cash in office, ....... 

Deposits in trust companies and banks not on interest, 
Deposits in trust companies and banks on interest, . 

Total ledger assets, ........ 

Non-Ledger Assets. 
Interest accrued on: — 

Mortgages, $7.92; bonds, $510.82, 

Market value of stocks and bonds over book value, . 

Gross assets, . . . . . . • . 

Liabilities. 

Unearned premiums on outstanding risks, .... 

Dividends due policy holders, ....... 

Rents due or accrued, ........ 

Federal, state and other taxes, due or accrued, 

Total, 

Surplus to policy holders, ....... 

Total liabilities, including surplus, ..... 

Risks and Premiums. 

In force Dec. 31, 1911, . . $829,335 00 $12,651. 78 

Written during the year, . 274,085 00 4,187 28 



$900 00 

42,396 00 

1 68 

37 14 

4,383 86 


$47,718 68 

518 74 
1,326 00 


$49,563 42 

$6,878 25 

12 00 

50 00 

1 05 



$6,941 30 
42,622 12 

$49,563 42 



Conting't Prem's. 

$50,607 12 
16,749 12 



Total, . 
Expired and terminated, 

In force at end of year, . 



$1,103,420 00 
273,135 00 

$830,285 00 



$16,839 06 $67,356 24 
4,175 53 16,702 12 



$12,663 53 $50,654 12 



Miscellaneous. 
Losses incurred during the year, , 
Dividends to policy holders during 1912, 100 per cent. 



$222 11 



Schedule A. Stocks and Bonds owned by the Company. 



10 shares 
1 share 

24 shares 

5 " 
14 " 

4 " 
| 13 " 

100 shares 
31 " 

9 shares 
4 " 
• 21 " 

11 " 
I 10 " 

10 " 
9 " 



Railroad Stocks. 
Atch., Topeka & Santa Fe, common, 
Atch., Topeka & Santa Fe, preferred, 
Boston & Maine, 

Chicago Jet. & Un. Stk. Yds., pref., 
Chic, Milwaukee & St. Paul, pref., 
Chic, Milwaukee & St. Paul, com., 
N. Y. Central & Hudson River, . 

Bank Stocks. 
Merchants National, Newburyport, 
Ocean National, Newburyport, . 

Miscellaneous Stocks. 
American Tel. & Tel. Co., . 
Michigan State Telephone, pref., 
Riverbank Court Securities Co., 
United States Rubber Co., 1st pref., 
Western Union Telegraph Co., . 
Westinghouse El. & Mfg. Co., pref., 
Westinghouse El. & Mfg. Co., com., 



Book Value. 


Rate. 


Market Value. 


$800 


00 


108 


$1,080 00 


100 


00 


102 


102 00 


2,100 


00 


98 


2,352 00 


625 


00 


108 


540 00 


1,850 


00 


140 


1,960 00 


400 


00 


113 


452 00 


1,300 


00 


109 


1,417 00 


2,000 


00 


170 


3,400 00 


1,550 


00 


138 


2,139 00 


900 


00 


141 


1,269 00 


300 


00 


101 


404 00 


2,000 


00 


55 


1,155 00 


600 


00 


107 


1,177 00 


1,000 


00 


76 


760 00 


750 


00 


119 


595 00 


450 


00 


80 


360 00 



68 



NORFOLK MUTUAL FIRE INSURANCE CO. 



Municipal Bonds. 
Newport News, Va., 4s, 1941, 

Railroad Bonds. 
Bangor & Aroostook cons, refunding 4s, 1951, 
Bangor «fe Aroostook (St. Johns Div.) 5s, 1939, 
Boston & Northern Street 1st 4s, 1954, 
Chicago, Burlington & Quincy gen. 4s, 1958, 
Wabash equipment 4|s, 1916, 

Miscellaneous Bonds. 
American Tel. & Tel. Co. 4s, 1929, 
Cumberland Tel. & Tel. Co. 1st gen. 5s, 1937, 
Michigan State Telephone 5s, 1924, . 
Minneapolis General Electric Co. 5s, 1934, . 
New England Cotton Yarn Co. 5s, 1929, . 
Western Tel. & Tel. Co. 5s, 1932, 
Westinghouse Electric Co. conv. 5s, 1931, . 



Book Value. 


Rate. 


Market V r alue. 


$2,000 00 


93 


$1,800 00 


1,730 00 


81 


1,020 00 


3,000 00 


97 


2,910 00 


1,800 00 


90 


1.^00 00 


2,000 00 


95 


1,900 00 


961 00 


97 


970 00 


2,875 00 


89 


2,670 00 


2,995 00 


101 


3,030 00 


1,000 00 


99 


990 00 


1,000 00 


100 


1.000 00 


1,000 00 


95 


950 00 


3,000 00 


100 


3,000 00 


1,950 00 


93 


1,860 00 


$42,396 00 


$43,722 00 



NORFOLK MUTUAL FIRE INSURANCE COMPANY, DEDHAM. 

Incorporated Feb. 12, 1825. Commenced business July 1, 1825. 
JAMES Y. NOYES, President. THEODORE T. MARSH, Secretary. 

Income. 

Net premiums, ......... 

Gross interest on mortgages, $994.95; stocks and bonds, 
$25,624.58; bank deposits, $527.92; gross rents, including S375 
for company's own occupancy,$l, 581. 25, .... 

From all other sources, ...... 

Total income, ..... 

Ledger assets, Dec. 31, 1911, .... 



S93,204 71 



28,728 70 
9 35 



Total, 



Disbursements. 



Net amount paid policy holders for losses, 
Expenses of adjustment and settlement of losses, 
Commissions or brokerage, .... 

Agency expenses, ...... 

Salaries, fees, etc., of officers and employees, 

Rents, including $375 for company's own occupancy, 

Advertising, printing and stationery, 

Postage, telegrams, telephone and express, 

Legal expenses, ..... 

Maps, including corrections, . 

Underwriters, boards and tariff associations, 

Fire department, patrol and salvage corps fees and taxes, 

Inspections and surveys, 

Repairs and expenses on real estate, 

Taxes on real estate, 

State taxes on premiums, 

Other licenses, fees and taxes, 

Dividends to policy holders, 

Agents' balances charged off, 

Gross loss on sale of real estate, 

All other disbursements, . 

Total disbursements, 

Balance, 





8121,942 76 




651,964 81 




. $773,907 57 




$22,477 24 




432 47 




13,963 41 




65 00 




8,681 00 




425 00 




828 23 




3&4 09 




100 00 




186 60 




255 66 


ixes, . 


185 12 




409 89 




1.557 05 




288 88 




895 92 




809 74 




56,979 60 




68 93 




369 16 


• 


591 51 




. §109,934 50 



$663,973 07 



NORFOLK MUTUAL FIRE INSURANCE CO. 



G9 



Ledger Assets. 
Book value of real estate, ..... 

Mortgage loans on real estate, .... 

Book value of stocks and bonds (Schedule A), . 
Cash in office, ....... 

Deposits in trust companies and banks not on interest, 
Deposits in trust companies and banks on interest, . 
Agents' balances, ....... 



Total ledger assets, 



Non-Ledger Assets. 



Interest due and accrued on: — 
Mortgages, $435.34; bonds, $7,036.01, 
Rents accrued on company's property, 
Market value of stocks and bonds over book value, 

Gross assets, ...... 

Liabilities. 
Unpaid losses, ...... 

Unearned premiums on outstanding risks, 
Dividends due policy holders, 
Salaries, expenses and accounts, due or accrued, 
Federal, state and other taxes, due or accrued, 
Due for return premiums, .... 

Total, 

Surplus to policy holders, .... 

Total liabilities, including surplus, 



In force Dec. 31, 1911, . 
Written during the year, 



Risks and Premiums. 

Risks. Cash Prem's. 

. $26,741,657 00 $378,741 73 

6,714,462 00 95,704 52 



$15,000 00 


21,150 00 


605,166 43 


237 04 


1,421 89 


17,082 64 


3,915 07 


$663,973 07 


7,471 35 


256 25 


10,609 57 


$682,310 24 


$701 97 


190,691 52 


1,504 80 


100 00 


260 11 


453 09 



$193,711 49 
488,598 75 

$682,310 24 



Conting't Prem's. 

$378,741 73 
95,704 52 



Total, .... $33,456,119 00 
Expired and terminated, . 6,537,518 00 


$474,446 25 
94,597 50 

$379,848 75 


$474,446 25 
94,597 50 


In force at end of year, . . $26,918,601 00 


$379,848 75 


Miscellaneous. 








Net premiums received from organization of company, . . < 
Net losses paid from organization of company, 
Cash dividends paid policy holders from organization of company, 
Losses incurred during the year, ...... 

Dividends to policy holders during 1912, 25, 50 and 70 per cent. 


13,567,079 15 

1,257,537 78 

1,767,345 64 

23,065 23 


Schedule A. Stocks and Bonds owned by the Company. 


Railroad Stocks. 
100 shares Atch., Topeka <fe Santa Fe, com., 
213 Atch., Topeka & Santa Fe, pref., 
125 " Boston & Albany, .... 

75 " Boston & Lowell, .... 

20 " Boston & Providence, 
100 " Old Colony, 

60 " Union Pacific, preferred, . . , 


Book Value. 
$9,418 75 

4,678 20 
22,494 24 
10,818 25 

4,070 50 
17,071 74 

2,670 00 


Rate. 
108 
102 
214 
206 
293 
177 
92 


Market Value. 

$10,800 00 

21,726 00 

26,750 00 

15,450 00 

5,860 00 

17,700 00 

5,520 00 



70 



PAPER MILL MUTUAL INSURANCE CO. 



Miscellaneous Stocks. 
80 shares Dedham Water Co., . 
Municipal Bonds. 
Boston, Mass., 4s, 1921-23, 
Chelsea, Mass., 4s, 1936, . 
Chicago, 111., 4s, 1922, 
Fall River, Mass., 4s, 1929, 
Lawrence, Mass., 4s, 1917, 
Lynn, Mass., 4s, 1926-29, 
Newton, Mass., 4s, 1915-20, 
Newton, Mass., 4s, 1924-28, 
New York, N. Y., 4|s, 1957, 
North Andover, Mass., 4s, 1923, 
Salem, Mass., 4s, 1914, 
Taunton, Mass., 4s, 1914-28, 

Railroad Bonds, 
Atch., Topeka & Santa F6 general 4s, 1995, 
Atch., Topeka & Santa Fe adjustment 4s, 1995, 
Boston & Albany 3£s, 1952, 
Boston & Albany 4s, 1933, 
Boston & Lowell 4s, 1932, 
Boston & Maine 4s, 1942, 
Boston & Maine 4|s, 1944, 
Boston & Providence 4s, 1918, 
Boston, Revere Beach & Lynn 4£s, 1927, 
Chic, Burl. & Quincy (111. Div.) 4s, 1949, . 
Chic, Milwaukee & St. Paul general 4s, 1989, 
Concord & Montreal 1st 4s, 1920, 
Connecticut & Passumpsic Rivers 4s, 1943, . 
Delaware & Hudson 1st and ref. 4s, 1943, . 
Dexter & Newport 4s, 1917, 

Fitchburg 4s, 1915 

Fitchburg 4s, 1927, 

Fremont, Elkhorn & Missouri Valley 6s, 1933, 

Illinois Central (St. Louis Div.) 3£s, 1951, . 

Maine Central 5s, 1923, .... 

Minneapolis, St. P. & S. St. Marie 1st 4s, 1941, 

New London Northern 1st 4s, 1940, . 

N. Y. C. & Hud. R. (Lake Shore col.) 3Js, 1998, 

New York, New Haven & Hartford 4s, 1947, 

Nor. Pac-Gt. Nor. (C, B. & Q. col.) 4s, 1921, 

Norwich & Worcester 4s, 1927, 

Old Colony 4s, 1925, 

Old Colony 4s, 1938, 

Old Colony 3|s, 1932, 

Oregon Short Line 6s, 1922, 

Portland & Rumford Falls 4s, 1926, 

Rock Island & Frisco Terminal 1st 5s, 1927, 

Union Pacific 1st 4s, 1947, 

Miscellaneous Bonds. 
American Telephone & Telegraph Co. 4s, 1929, 
New England Telephone & Tel. Co. 5s, 1932, 



Book Value. 


Rate. 


Market Value. 


$8,000 00 


110 


$8,800 00 


15,713 75 


100 


15,000 00 


11,937 50 


97 


9,700 00 


5,056 25 


99 


4,950 00 


2,317 50 


99 


1,980 00 


5,600 00 


100 


5,000 00 


20,596 25 


99 


18,810 00 


3,368 75 


100 


3,000 00 


13,562 50 


99 


11,880 00 


10,262 50 


105 


10,500 00 


5,631 25 


100 


6,000 00 


5,403 50 


100 


5,000 00 


11,205 00 


100 


10,000 00 


17,550 00 


97 


21,825 00 


5,160 00 


88 


10,560 00 


20,562 50 


84 


16,800 00 


4,950 00 


95 


4,750 00 


10,200 00 


95 


9,500 00 


14,881 25 


90 


12,600 00 


23,725 00 


98 


19,600 00 


20,450 00 


99 


19,800 00 


10,800 00 


101 


10,100 00 


10,125 00 


99 


9,900 00 


9,975 00 


99 


9,900 00 


10,200 00 


98 


9,800 00 


5,037 50 


99 


4,950 00 


7,880 00 


99 


7,920 00 


6,210 00 


98 


5,880 00 


5,312 50 


99 


4,950 00 


22,447 50 


97 


19,400 00 


5,441 25 


123 


6,150 00 


4,925 00 


85 


4,250 00 


5,412 50 


105 


5,250 00 


9,600 00 


96 


9,600 00 


9,900 00 


98 


9,800 00 


8,625 00 


79 


7,900 00 


17,450 00 


91 


17,290 00 


22,000 00 


96 


21,120 00 


21,450 00 


98 


19,600 00 


19,118 75 


98 


18,620 00 


17,386 25 


96 


16,320 00 


5,150 00 


90 


4,500 00 


10,100 00 


111 


11,100 00 


10,000 00 


97 


9,700 00 


15,750 00 


100 


15,000 00 


4,050 00 


99 


4,455 00 


13,352 50 


89 


12,460 00 


10,112 50 


100 


10,000 00 


S605,166 43 


$615,776 00 



PAPER MILL MUTUAL INSURANCE COMPANY, BOSTON. 

Incorporated November, 1886. Commenced business April 1, 1887. 
R. W. TOPPAN, President. D. W. LAXE, Secretary 

Office, 31 Milk Street. 

Income. 
Net premiums, ........ 

Gross interest on bonds, $8,806.30; bank deposits, (411.51, 
Gross profit on sale of bonds, ...... 



Total income, 
Ledger assets, Dec. 31, 1911, 

Total, . 



$191,349 06 

9,217 81 

151 92 



$200,718 79 
236,977 19 

$437,695 98 



PAPER MILL MUTUAL INSURANCE CO. 



71 



Disbursements 
Net amount paid policy holders for losses, 
Salaries, fees, etc., of officers and employees, 
Rents, ...... 

Printing and stationery, 

Postage, telegrams, telephone and express, 

Furniture and fixtures, .... 

Fire department, patrol and salvage corps fees and taxes, . 
Inspection department, for inspections, maps, plans and adjust 
ment of losses, .... 

State taxes on premiums, 

Insurance department licenses and fees, 

Other licenses, fees and taxes, 

Dividends to policy holders, . 

Gross loss on sale of bonds, 

Gross decrease in book value of bonds, 

All other disbursements, 

Total disbursements, 

Balance, .... 

Ledger Assets. 

Book value of bonds (Schedule A), 

Cash in office, ...... 

Deposits in trust companies and banks on interest, 
Premiums in course of collection, 

Total ledger assets, .... 

Non-Ledger Assets. 
Interest accrued on bonds, .... 

Gross assets, ...... 

Assets not admitted. 
Book value of bonds over market value, . 

Admitted assets, ..... 

Liabilities. 
Unpaid losses, ...... 

Unearned premiums on outstanding risks, 
Salaries, expenses and accounts, due or accrued, 
Federal, state and other taxes, due or accrued, 
Due for return premiums, .... 

Total, 

Surplus to policy holders, .... 

Total liabilities, including surplus, 



87,108 54 


8,555 66 


480 00 


585 80 


219 62 


55 75 


40 01 


4,140 75 


1,828 16 


21 75 


936 16 


170,125 15 


287 50 


659 38 


211 86 


. $195,256 09 


. $242,439 89 


. $217,993 12 


43 65 


19,602 27 


4,800 85 



In force Dec. 31, 1911, . 
Written during the year, 

Total, . 
Expired and terminated, 

In force at end of year, . 



Risks and Premiums. 

Risks. 

$30,862,966 00 
27,200,168 00 

$58,063,134 00 
25,956,131 00 



Cash Prem's. 

$227,764 23 
197,488 99 

$425,253 22 
189,467 32 



$242,439 89 



2,929 10 
$245,368 99 

4,943 12 

$240,425 87 



$700 00 

118,041 96 

9 00 

2,561 08 

8 33 

$121,320 37 
119,105 50 

$240,425 87 



Conting't Prem's. 

$1,138,821 15 
987,444 95 

$2,126,266 10 
947,336 60 



$32,107,003 00 $235,785 90 $1,178,929 50 



72 



QUINCY MUTUAL FIRE INSURANCE CO. 



Miscellaneous. 
Net premiums received from organization of company, . . S2,504,704 00 
Net losses paid from organization of company, . . 174,614 41 

Cash dividends paid policy holders from organization of company, 1 ,989,982 86 
Losses incurred during the year, .... . 7,508 54 

Dividends to policy holders during 1912, 92, 86, 79, and 72 per cent. 

Schedule A. Bonds owned by the Company. 

State and Municipal Bonds. 
Boston, Mass., 3£s, 1932-33, 
Newton, Mass., 4s, 1922, . 
New York 4s, 1961, 
New York, N. Y., 4*s, 1957, 
New York, N. Y., 4±s, 1960-62, 

Railroad Bonds. 
Boston & Albany 4s, 1913, 
Boston Elevated 4s, 1935, 
Boston & Lowell 4s, 1916, 
Boston & Maine 45S, 1944, 
Boston & Maine 4s, 1926, 
Chicago, Burl. & Quincy (111. Div.) 4s, 1949, 
Chicago, Burl. & Quincy general 4s, 1958, . 
Chicago Jet. & Union Stock Yards 4s, 1940, 
Chicago & Northwestern 5s, 1921, 
Cincinnati, Sandusky & Cleveland 5s, 1928, 
Delaware & Hudson 4s, 1943, 

Maine Central 5s, 1923 

Mohawk & Malone 4s, 1991, 

N. Y. C. & H. R. (Lake Shore col.) 3§s, 1998, 

New York Central equipment 5s, 1919, 

N. Y., N. H. & H. (Pt. Chester Div.) 4s, 1954, 

Pennsylvania 5s, 1919, .... 

St. P., Minneapolis & Manitoba 4s, 1933, . 

West End Street 4s, 1915, 

West End Street 4s, 1932, 

Miscellaneous Bonds. 
American Tel. & Tel. Co. 4s, 1929, . 
Mass. Gas Cos. 4§s, 1929, 
New York Telephone Co. 4|s, 1939, . 
Western Electric Co. 5s, 1922, . 



Book Value. 


Rate. 


Market Value. 


S15.000 


00 


93 


$13,950 00 


5,000 


00 


100 


5,000 00 


5,000 


00 


101 


5,050 00 


5,000 


00 


105 


5,250 00 


25,000 


00 


100 


25,000 00 


10,000 


00 


100 


10,000 00 


20,000 


00 


90 


18,000 00 


5,000 


00 


99 


4,950 00 


5,000 


00 


98 


4,900 00 


4,825 


00 


94 


4,700 00 


4,837 


50 


99 


4,950 00 


9,875 


00 


95 


9,500 00 


4,950 


00 


88 


4,400 00 


5,000 


00 


103 


5,150 00 


5,000 


00 


106 


5,300 00 


5,000 


00 


99 


4,950 00 


5,000 


00 


105 


5,250 00 


5,000 


00 


99 


4,950 00 


4,993 


75 


79 


3,950 00 


4,993 


75 


102 


5,100 00 


5,000 


00 


97 


4,850 00 


5,000 


00 


106 


5,300 00 


9,800 


00 


98 


9,800 00 


5,000 


00 


99 


4,950 00 


14,843 


75 


94 


14,100 00 


9,106 


25 


89 


8,900 00 


4,987 


50 


98 


4,900 00 


4,811 


87 


97 


4.S50 00 


4,968 


75 


102 


5,100 00 


$217,993 


12 


8213,050 00 



QUINCY MUTUAL FIRE INSURANCE COMPANY, QUINCY. 

Incorporated March 22, 1851. Commenced business May, 1851. 
CHARLES A. HOWLAND, President. JAMES F. YOUNG, Secretary. 

Income. 

Net premiums, ... ..... 

Gross interest on mortgages, S3, 957. 37; collaterals, S5,354.47; 
stocks and bonds, $23,612.21; bank deposits, $542.36; gross 
rents, including $1,000 for company's own occupancy, $1,288, 

Gross profits on sale or maturity of stocks and bonds, 

From all other sources, ........ 



$164,882 05 



34.754 41 

3,257 12 

182 70 



Total income, ..... 

Ledger assets, Dec. 31, 1911, .... 

Total, 

Disbursements. 

Net amount paid for policy holders losses, 
Expenses of adjustment and settlement of losses, 



$203,076 28 
756.691 19 

$959,767 47 



$56,562 59 
1,321 02 



QUINCY MUTUAL FIRE INSURANCE CO. 



73 



Commissions or brokerage, ..... 

Salaries, fees, etc., of officers and employees, 

Rents, for company's own occupancy, 

Advertising, printing and stationery, 

Postage, telegrams, telephone and express, 

Legal expenses, ....... 

Furniture and fixtures, ...... 

Maps, including corrections, ..... 

Underwriters' boards and tariff associations, 

Fire department, patrol and salvage corps fees and taxes, 

Inspections and surveys, ..... 

Repairs and expenses on real estate, 

Taxes on real estate, ...... 

State taxes on premiums, ..... 

Insurance department licenses and fees, . 

Other licenses, fees and taxes, .... 

Dividends to policy holders, ..... 

Agents' balances charged off, ..... 

Framingham, Mass., note charged off, 

All other disbursements, ..... 

Total disbursements, ..... 

Balance, ....... 



Ledger Assets. 

Book value of real estate, .... 

Mortgage loans on real estate, 
Loans secured by collateral (Schedule A), 
Book value of stocks and bonds (Schedule B), . 
Cash in office, ...... 

Deposits in trust companies and banks on interest, 
Agents' balances, ...... 



Total ledger assets, ...... 

Non-ledger Assets. 

Interest due and accrued on : — 
Mortgages, $719.29; bonds, $4,221.36; collateral loans, $428.87 

other assets, $49.95, ....... 

Rents due on company's property, ..... 

Market value of real estate over book value, 
Market value of stocks and bonds over book value, . 

Gross assets, ........ 

Assets not admitted. 
Agents' balances over three months due, .... 

Admitted assets, ....... 

Liabilities. 
Unpaid losses, ........ 

Unearned premiums on outstanding risks, 

Dividends due policy holders, ....... 



$24,862 98 

16,190 98 

1,000 00 

1,719 98 

1,039 06 

562 77 

426 08 

1,148 76 

568 88 

281 86 

582 55 

339 32 

300 67 

2,138 25 

482 00 

1,366 24 

68,924 21 

84 34 

25,000 00 

655 44 

$205,557 98 

$754,209 49 



$9,256 00 

79,026 96 

108,000 00 

520,069 98 

721 16 

22,910 67 

14,224 72 

$754,209 49 



5,419 47 

160 00 

2,819 00 

70,814 02 

$833,421 98 



1,575 02 
$831,846 96 



$5,000 00 

283,128 46 

1,767 36 



74 



QUINCY MUTUAL FIRE INSURANCE CO. 



Salaries, expenses and accounts, due or accrued, 
Federal, state and other taxes, due or accrued, 

Total, 

Surplus to policy holders, .... 

Total liabilities, including surplus, 



$162 00 
487 48 



In force Dec. 31, 1911, . 
Written during the year, 

Total, . 
Expired and terminated, 

In force at end of year, . 



Risks and Premiums. 

Risks. Cash Prem's. 

. $37,556,069 00 $563,348 02 

. 11,542,120 00 173,540 77 



$290,545 30 
541,301 66 

$831,846 96 



Con ting 't Prem's. 

$563,348 02 
173,540 77 



$49,098,189 00 
11,152,043 00 

$37,946,146 00 
Miscellaneous. 



$736,888 79 $736,888 79 
172,692 00 172,692 00 



$564,196 79 $564,196 79 



Net premiums received from organization of company, . . $7,152,423 60 
Net losses paid from organization of company, .... 2,954,931 15 

Cash dividends paid policy holders from organization of company, 2,534,700 09 
Losses incurred during the year, ...... 59,762 59 

Dividends to policy holders during 1912, 20, 40 and 60 per cent. 



100 
60 
50 
29 
65 
20 
20 
24 



Schedule A. Securities held as Collateral. 

Company's 
Market Value 

$50,000 00 

12,500 00 

7,585 00 

19,055 00 

39,000 00 

9,000 00 

6,000 00 

5,000 00 

5,000 00 

10,000 00 

6,000 00 

5,000 00 

2,900 00 

6,500 00 

2,000 00 

2,000 00 

3,744 00 



250 shares Quincy Elec. Lt. & Power Co., 
125 " Lawrence Duck Co., 

41 " Granite Trust Co., . 
103 " Granite Trust Co., . 
Mortgage note of G. W. Hollis, . 
Mortgage note of J. E. McDonald, 
Dallas Cotton Mills 6s, 1926, . 
Tide Water Coal & Coke Co. note, 

50 shares King Coal Co. 



Co. 
Co. 



No. Packing & Prov, 

No. Packing & Prov, 

John P. Squire Co., . 

N. E. Dressed Meat & Wool Co 

Springfield Prov. Co., 

Consolidated Rend. Co., 

Sperry & Barnes Co., 

N. E. Tel. & Tel. Co., 



Loaned 

Thereon. 

$25,000 00 

15,000 00 

10,000 00 

20,000 00 

8,000 00 

7,500 00 



20,000 00 

2,500 00 
§191,284 00 $108,000 00 



Schedule B. Stocks and Bonds owned by the Company. 



Railroad Stocks. 
11 shares Old Colony, 

Bank Stocks. 
100 shares Brockton National, 



250 
32 
48 
55 

335 
88 
20 
29 
50 
87 
85 
50 



Commonwealth Trust Co., Boston, 
First National, So. Weymouth, . 
Granite Trust Co., Quincy, 
Merchants National, Boston, 
National Mt. Wollaston, Quincy, 
National Rockland, Boston, 
Old Colony National, Plymouth, 
Plymouth National, . 
Rockland Trust Co., 
Second National, Boston, . 
State Street Trust Co., Boston, . 
Wachusett National (liq.) Fitchburg, 



Book Value. 
SI, 100 00 

10,000 00 

37,500 00 

3,538 75 

6,295 75 

10,540 00 

41,240 75 

12,056 00 

2,300 00 

3,433 00 

6,000 00 

15,056 00 

12,050 00 

6,750 00 



Rate. 
177 

150 
208 
100 
200 
303 
123 
190 
120 
120 
135 
290 
275 
45 



Market Value. 
§1,947 00 

15,000 00 
52,000 00 

3,200 00 

9,600 00 
16,665 00 
41,205 00 
16,720 00 

2.400 

3,480 

6,750 
25,230 
23,375 

2,250 



00 
00 
00 
00 
00 
00 



RUBBER MANUFACTURERS MUTUAL INSURANCE CO. 



75 



Miscellaneous Stocks. 
200 shares Lawrence Duck Co., 
32 " Michigan Telephone Co., . 

State and Municipal Bonds. 
Massachusetts tax exempt 3s, 1930, . 
Providence, R. I., 3s, 1930, 

Railroad Bonds. 
Baltimore & Ohio 4§s, 1913, 
Bay State Street 5s, 1929, 
Granite Railway notes, 5s, 1913, 
Granite Railway notes, 6s, 1913, 
Nor. Pac.-Gt. Nor. (C, B. & Q. col.) 4s, 1921, 
Oregon Short Line ref. 4s, 1929, 
Peoria Railway Terminal 1st 4s, 1937, 
Portland Ry., Lt. & P. Co. 1st ref. 5s, 1942, 
Seattle Electric Co. ref. 5s, 1929, 

Miscellaneous Bonds. 
Adirondack Elec. Power Corp. 5s, 1962, 
American Telephone & Telegraph Co. 4s, 1929, 
California Gas & Electric Corp. 5s, 1937, 
Consolidated Rendering Co. notes, 55S, 1913, 
Consumers Power Co. 1st ref. 5s, 1936, 
Illinois Steel Co. 4§s, 1940, 
Lawrence (A. C.) Leather Co. notes, 6s, 1913, 
Lawrence Duck Co. notes, 5s, 1913, . 
Lawrence Duck Co. notes, 6s, 1913, . 
Michigan State Telephone Co. 1st 5s, 1924, 
Minneapolis General Electric Co. 5s, 1934, . 
National Calfskin Co. notes, 5s, 1913, 
New York Telephone Co. 1st gen. 4£s, 1939, 
Pacific Coast Power Co. 1st 5s, 1940, 
Pacific Gas & Electric Co. gen ref. 5s, 1942, 
Pacific Tel. & Tel. Co. 1st 5s, 1937, . 
Quincy Elec. Lt. & Power Co. 4|s, 1921, . 
Quincy Elec. Lt. & Power Co. notes 5s, 1913, 
Quincy Elec. Lt. & Power Co. notes, 5§s, 1913, 
Quincy Elec. Lt. & Power Co. notes, 6s, 1913, 
Southern Power Co. 1st 5s, 1930, 
Tacoma Gas Light Co. 5s, 1926, 
Western Electric Co. 1st 5s, 1922, 



Book Value. 


Rate. 


Market Value. 


$20,000 00 


100 


$20,000 00 


1,605 


00 


101 


3,232 00 


48,187 


50 


93 


46,500 00 


19,050 


00 


87 


17,400 00 


4,950 


00 


100 


5,000 00 


10,000 


00 


100 


10,000 00 


5,000 


00 


100 


5,000 00 


5,000 


00 


100 


5,000 00 


24,033 


48 


96 


46,080 00 


9,487 


50 


92 


9,200 00 


11,900 


00 


85 


11,900 00 


4,812 


50 


96 


4,800 00 


10,000 


00 


99 


9,900 00 


5,000 


00 


99 


4,950 00 


23,268 


75 


89 


22,250 00 


9,550 


00 


95 


9,500 00 


5,000 


00 


100 


5,000 00 


9,600 


00 


96 


9,600 00 


4,637 


50 


89 


4,450 00 


5,000 


00 


100 


5,000 00 


5,000 


00 


100 


5,000 00 


10,000 


00 


100 


10,000 00 


10,000 


00 


99 


9,900 00 


20,042 


50 


100 


20,000 00 


5,000 


00 


100 


5,000 00 


9,725 


00 


97 


9,700 00 


4,750 


00 


100 


5,000 00 


4,625 


00 


90 


4,500 00 


9,625 


00 


100 


10,000 00 


5,100 


00 


100 


5,000 00 


5,000 


00 


100 


5,000 00 


5,000 


00 


100 


5,000 00 


5,000 


00 


100 


5,000 00 


5,000 


00 


99 


4,950 00 


5,250 


00 


73 


5,110 00 


7,010 


00 


102 


7,140 00 


$520,069 98 


$590,884 00 



RUBBER MANUFACTURERS' MUTUAL INSURANCE COMPANY, 

BOSTON. 

Incorporated Nov. 4, 1884. Commenced business Jan. 15, 1885. 
ARTHUR H. LOWE, President. BENJAMIN TAFT, Secretary. 

Office, 81 Milk Street. 



Income. 
Net premiums, ........ 

Gross interest on bonds, $18,820; bank deposits, $1,153.04, 

Total income, ....... 

Ledger assets, Dec. 31, 1911, ...... 

Total, 

Disbursements. 
Net amount paid policy holders for losses, 
Salaries, fees, etc., of officers and employees, 
Rents, .......... 

Advertising, printing and stationery, .... 



$436,665 46 
19,973 04 

$456,638 50 
472,878 86 

$929,517 36 



$21,559 42 

12,020 60 

1,198 80 

1,399 82 



76 RUBBER MANUFACTURERS' MUTUAL INSURANCE CO. 

Postage, telegrams, telephone and express, .... $938 95 

Underwriters' boards and tariff associations, .... 58 92 

Inspection department, for inspections, maps, plans and adjust- 
ment of losses, ......... 9,273 27 

State taxes on premiums, . . . . . . . 4,749 93 

Insurance department licenses and fees, . . . . . 155 00 

Other licenses, fees and taxes, ...... 1,939 80 

Dividends to policy holders, ....... 380,715 65 

All other disbursements, ....... 1,343 28 

Total disbursements, $435,353 44 

Balance, $494,163 92 

Ledger Assets. 

Book value of bonds (Schedule A), $432,588 10 

Cash in office, ......... 85 33 

Deposits in trust companies and banks on interest, . . . 44,901 76 

Premiums in course of collection, ...... 16,588 73 

Total ledger assets, $494,163 92 

Non-Ledger Assets. 

Interest accrued on bonds, ....... 6,614 14 



Gross assets, $500,778 06 

Assets not admitted. 
Book value of bonds over market value, ..... 11,448 10 



Admitted assets, $489,329 96 

Liabilities. 

Unpaid losses, $2,774 19 

Unearned premiums on outstanding risks, .... 234,199 32 

Salaries, expenses and accounts, due or accrued, . . . 435 62 

Federal, state and other taxes, due or accrued, . . . 3,929 47 



Total, 8241,338 60 

Surplus to policy holders, 247,991 36 



Total liabilities, including surplus, $489,329 96 

Risks and Premiums. 

Risks. Cash Prem's. Conting't Prera's. 

In force Dec. 31, 1911, . . $52,816,695 00 $453,996 82 S2,269,9S4 10 
Written during the year, . 54,090,432 00 458,779 30 2,293,896 50 



Total, .... $106,907,127 00 $912,776 12 $4,563,880 60 
Expired and terminated, . 52,076,167 00 445,340 34 2,226,701 70 



In force at end of year, . . $54,830,960 00 $467,435 78 $2,337,178 90 

Miscellaneous. 
Net premiums received from organization of company, . . $7.740.S27 53 
Net losses paid from organization of company, . . . 1.220,213 01 

Cash dividends paid policy holders from organization of company, 5.259,366 63 
Losses incurred during the year, ...... 23,213 53 

Dividends to policy holders during 1912, 90 per cent. 



SALEM MUTUAL FIRE INSURANCE CO. 



77 



Schedule A. Bonds owned by the Company. 



State and Municipal Bonds. 
Fall River, Mass., 3£s, 1915, 
Massachusetts 35S, 1940, . 

Railroad Bonds. 
Atchison, Topeka & Santa Fe 4s, 1928, 
Aurora, Elgin & Chicago 5s, 1946, 
Bangor & Aroostook cons. 4s, 1951, 
Boston Elevated 4s, 1935, 
Boston & Lowell 3£s, 1919, 
Boston & Maine 4s, 1926, 
Boston & New York Air Line 4s, 1955, 
Central Branch 4s, 1919, . 
Chicago & Eastern Illinois equip. 4£s, 1914, 
Chicago, Rock Island & Pacific 4£s, 1915, 
El Paso & Rock Island 5s, 1951, 
Fitchburg 4s, 1927-28, 
Florida East Coast 4£s, 1959, . 
Lake Shore & Michigan Southern 4s, 1928, 
Lake Shore & Michigan Southern 4s, 1931, 
Maine Central 4^s, 1916, .... 
Maryland, Delaware & Virginia 5s, 1955, 
Missouri Pacific 5s, 1914, .... 
N. Y. C. & Hud. R. (Lake Shore col.) 3§s, 1998, 
New York, Chicago & St. Louis 4s, 1931, 
New York, New Haven & Hartford 4s, 1955, 
New York, New Haven & Hartford 4s, 1914, 
New York, Ontario & Western 5s, 1915, 
Northern Maine Seaport 5s, 1935, 
Nor. Pac.-Gt. Nor. (C, B. & Q. col.) 4s, 1921, 
Richmond- Washington 4s, 1943, 
Rock Island, Arkansas & Louisiana 4?s, 1934, 
St. Louis Merchants Bridge Terminal 5s, 1930, 
West End Street 4s, 1917, 
Worcester & Holden St. 5s, 1923, 

Miscellaneous Bonds. 
American Telephone & Telegraph Co. 4s, 1929, 
American Writing Paper Co. 5s, 1919, 
Billings & Eastern Mont. Power Co. 6s, 1934, 
Consumers Power Co. 5s, 1936, . 
Kansas Gas & Electric Co. 5s, 1922, . 
New England Tel. & Tel. Co. 5s, 1919, 
New England Tel. & Tel. Co. 4s, 1930, 
Western Electric Co. 5s, 1922, . 
Western Union Telegraph Co. 4§s, 1950, 



50 
50 
00 
00 



Book Value. 

$15,000 00 

38,675 60 

9,820 00 
4,750 00 
4,250 00 
6,000 00 

14,000 00 
9,643 75 
3,000 00 
4,712 
4,937 
3,000 
5,000 

20,000 00 
4,812 50 
2,970 00 

14,790 00 

16,000 00 

10,000 00 
9,850 00 

12,000 00 
9,262 50 

20,000 00 

980 00 

5,000 00 

15,000 00 

25,910 00 
9,000 00 
4,693 75 

25,000 00 
4,993 75 
4,000 00 

21,875 00 

10,000 00 

5,000 00 

4,850 00 

4,818 75 

10,000 00 

17,000 00 

1,992 50 

20,000 00 

$432,588 10 



Rate. 
99 
93 

96 
95 
81 
90 
95 
94 
97 
92 
99 
99 

100 
97 
96 
92 
92 

100 
98 

100 
79 
88 
90 
99 

101 

103 
96 
95 
88 

106 
98 

100 

89 
89 

101 
96 
97 

100 
89 

102 
95 



Market Value. 

$14,850 00 

37,200 00 



9,600 
4,750 
4,050 
5,400 

13,300 
9,400 
2,910 
4,600 
4,950 
2,970 
5,000 

19,400 
4,800 
2,760 

15,640 

16,000 
9,800 

10,000 

11,850 
8,800 

18,000 

990 

5,050 

15,450 

25,920 
8,550 
4,400 

26,500 
4,900 
4,000 



00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 



00 
00 
00 
00 
00 



19,580 

8,900 

5,050 

4,800 

4,850 
10,000 00 
15,130 00 

2,040 00 
19,000 00 

$421,140 00 



SALEM MUTUAL FIRE INSURANCE COMPANY, SALEM. 

Incorporated April 17, 1838. Commenced business May 1, 1838. 
S. HERBERT WILKINS, President. ARTHUR DERBY, Secretary. 

Income. 

Net premiums, $43,509 16 

Gross interest on mortgages, $275.50; stocks and bonds, 
$3,444.81; bank deposits, $47.11, 3,767 42 



Total income, 
Ledger assets, Dec. 31, 1911, 



$47,276 58 
100,681 07 



Total, . 



$147,957 65 



78 



SALEM MUTUAL FIRE INSURANCE CO. 



Disbursements. 
Net amount paid policy holders for losses, 
Expenses of adjustment and settlement of losses, 
Commissions or brokerage, ..... 

Salaries, fees, etc., of officers and employees, 

Rents, ........ 

Advertising, printing and stationery, 
Postage, telegrams, telephone and express, 
Furniture and fixtures, ...... 

Maps, including corrections, ..... 

Underwriters' boards and tariff associations, 

Fire department, patrol and salvage corps fees and taxes, 

Inspections and surveys, ..... 

State taxes on premiums, ..... 

Other licenses, fees and taxes, .... 

Dividends to policy holders, .... 

Gross loss on sale or maturity of bonds, . 

All other disbursements, ..... 

Total disbursements, ..... 

Balance, ....... 

Ledger Assets. 
Mortgage loans on real estate, .... 

Book value of stocks and bonds (Schedule A), . 
Cash in office, ....... 

Deposits in trust companies and banks on interest, . 
Agents' balances, ....... 

Total ledger assets, ..... 

Non-Ledger Assets. 
Interest accrued on: — 
Mortgages, $142.95; bonds, $1,075.73, 

Gross assets, ...... 

Assets not admitted. 

Agents' balances over three months due, 

Book value of stocks and bonds over market value, 



Admitted assets, ..... 

Liabilities. 
Unpaid losses, ...... 

Unearned premiums on outstanding risks, 
Dividends due policy holders, 
Salaries, expenses and accounts, due or accrued, 
Federal, state and other taxes, due or accrued, 
Commissions and other charges due agents and brokers, 
Due for return premiums, .... 

Total, 

Surplus to policy holders, .... 

Total liabilities, including surplus, 



$18,080 06 

347 55 

6,785 08 

4,671 96 

600 00 

226 35 

344 35 

41 20 

79 66 
241 59 

80 56 
307 52 
428 79 
195 35 

10,796 02 
365 00 
103 10 

$43,694 14 

S104,263 51 

$8,700 00 

84,661 18 

938 24 

3,169 99 

* 6,794 10 

$104,263 51 



1,218 68 



$115 68 
619 18 


$105,482 19 
734 86 


} 


$104,747 33 

1945 86 

48,076 29 

1,784 55 

60 00 

200 27 

1,071 62 

324 84 




$52,463 43 
52,283 90 


% # 


$104,747 33 



SALEM MUTUAL FIRE INSURANCE CO. 



79 



In force Dec. 31, 1911, . 
Written during the year, 

Total, . 
Expired and terminated, 

In force at end of year, 
Deduct amount reinsured, 

Net amount in force, 



Risks and Premiums. 

Risks. 

$6,346,827 00 
3,035,566 00 



Cash Prem's. 

$100,628 39 
47,879 73 



Contbg't Prem's. 

$100,628 39 
47,879 73 



$9,382,393 00 
2,804,303 00 

$6,578,090 00 
353,869 00 

$6,224,221 00 



$148,508 12 $148,508 12 
45,856 78 45,856 78 



$102,651 34 
5,589 39 

$97,061 95 



$102,651 34 



Miscellaneous. 
Losses incurred during the year, ...... $18,952 79 

Dividends to policy holders during 1912, 20, 25, 30, 35 and 40 per cent. 

Schedule A. Stocks and Bonds owned by the Company. 

Railroad Stocks. 
7 shares Boston & Maine, preferred, 
2 " Boston & Maine, common, 
Miscellaneous Stocks. 
22 shares Salem Gas Light Co., . 

State and Municipal Bonds 
Akron, Ohio, 4s, 1913, 
Boston, Mass., 3^s, 1928, . 
Boston, Mass., 4s, 1916, 
Boston, Mass., 3|s, 1919-20, 
Brockton, Mass., 4s, 1913-15, 
Canton, Ohio, 3js, 1915, . 
Chicago, 111., 4s, 1921, 
Columbus, Ohio, 4s, 1934, 
Cranston, R. I., 4s, 1925, . 
Dayton, Ohio, 4s, 1915, 
Dayton, Ohio, 3§s, 1917, . 
Fall River, Mass., 3|s, 1930, 
Gloucester, Mass., 4§s, 1916, 
Haverhill, Mass., 4s, 1922, 
Lynn, Mass., 4s, 1921, 
Lynn, Mass., 3£s, 1913, 
Massachusetts 3s, 1928, 
Massachusetts 3|s, 1938, . 
Medford, Mass., 4s, 1917, 
Meriden, Conn., 3§s, 1919, 
Minneapolis, Minn., 4§s, 1914, 
New Britain, Conn., 4s, 1918, 
New London, Conn., 4s, 1924, 
Omaha, Neb., 4?s, 1941, . 
Pawtucket, R. I., 4|s, 1930, 
Peabody, Mass., 4s, 1921, 
Peoria, 111., 4s, 1926, 
Portland, Me., water district 4s, 1928, 
Portsmouth, N. H., 4s, 1913, 
Quincy, Mass., 4s, 1916, . 
Stamford, Conn., 3§s, 1921, 
Stamford, Conn., 4s, 1914, 
Toledo, Ohio, 4s, 1922, 
Yonkers, N. Y., 4£s, 1915-17, 

Railroad Bonds 
Boston & Albany 4s, 1913, 
Boston & Lowell 4s, 1932, 
Boston & Lowell 4s, 1913, 
Boston & Maine 4s, 1937, 
Boston & Maine 4s, 1942, 



Book Value. 


Rate. 


Market Value . 


$700 00 


138 


$966 00 


200 00 


98 


196 00 


2,506 29 


250 


5,500 00 


1,034 92 


100 


1,000 00 


1,081 25 


94 


940 00 


1,111 25 


100 


1,000 00 


3,148 75 


97 


2,910 00 


2,012 50 


100 


2,000 00 


997 50 


99 


990 00 


3,125 00 


99 


2,970 00 


2,047 50 


100 


2,000 00 


1,050 00 


98 


980 00 


1,038 70 


100 


1,000 00 


1,996 51 


98 


1,960 00 


2,850 00 


93 


2,790 00 


3,111 00 


101 


3,030 00 


1,120 00 


100 


1,000 00 


990 00 


99 


990 00 


2,020 00 


100 


2,000 00 


1,020 00 


89 


890 00 


2,280 00 


93 


1,860 00 


1,060 00 


100 


1,000 00 


1,047 80 


96 


960 00 


1,122 50 


101 


1,010 00 


3,122 98 


99 


2,970 00 


2,000 00 


99 


1,980 00 


2,065 00 


102 


2,040 00 


2,104 80 


103 


2,060 00 


1,022 50 


100 


1,000 00 


1,020 80 


97 


970 00 


5,100 00 


100 


5,000 00 


1,023 44 


100 


1,000 00 


1,043 75 


100 


1,000 00 


1,051 25 


96 


960 00 


1,043 75 


100 


1,000 00 


1,040 00 


102 


1,020 00 


5,188 05 


101 


5,050 00 


1,052 50 


100 


1,000 00 


2,050 00 


95 


1,900 00 


1,065 89 


100 


1,000 00 


1,017 50 


91 


910 00 


997 50 


90 


900 00 



80 



SAUGUS MUTUAL FIRE INSURANCE CO. 



Boston & Providence 4s, 1918, . 
Fitchburg 4s, 1927, . 
Old Colony 4s, 1925, 
West End Street 4s, 1932, 

Miscellaneous Bonds. 
American Tel. & Tel. Co. 4s, 1929, 



Book Value. 

$4,100 00 

1,135 00 

1,055 00 

3,997 50 

2,692 50 
$84,661 18 



Rate. 
99 
97 
98 
94 

89 



Market Value. 

$3,960 00 

070 00 

980 00 

3,760 00 

2,670 00 
$84,042 00 



Total ledger assets, 



Unpaid losses, 
Taxes due or accrued, 



Liabilities. 



$2,915 


98 


7 


40 


403 


00 


55 


43 


14 


11 


$3,395 92 


3,111 


88 



S6,507 80 



SAUGUS MUTUAL FIRE INSURANCE COMPANY, SAUGUS. 

Incorporated Feb. 24, 1852. Commenced business April 1, 1852. 
HORACE H. ATHERTON, President. HORACE H. ATHERTON, Jr., Secretary. 

[Note. — This company insures nothing but dwellings, farm buildings and their contents, in Lynn, 
Saugus, Lynnfield, Swampscott and Nahant. Xo cash premiums are taken, but assessments are made 
on deposit notes to pay losses and expenses. All policies are issued for a term of three years.] 

Income. 

Assessments, ........ 

Assessments previously charged off, .... 

Policy fees, ......... 

Gross interest on bank deposits, ..... 

From all other sources, ....... 

Total income, ....... 

Ledger assets, Dec. 31, 1911, ...... 

Total, 

Disbursements. 
Net amount paid policy holders for losses, 
Salaries, fees, etc., of officers and employees, 
Rents, ......... 

Advertising, printing and stationery, .... 

Postage, telegrams, telephone and express, 

State taxes on assessments, ...... 

Assessments charged off, ...... 

All other disbursements, ...... 

Total disbursements, ...... 

Balance, ........ 

Ledger Assets. 

Cash in office, ........ 

Deposits in trust companies and banks not on interest, 
Deposits in trust companies and banks on interest, . 
Assessments in course of collection, .... 



81,933 94 


1,542 


22 


175 


00 


158 


40 


90 09 


25 95 


31 


90 


21 


10 


$3,978 60 



12,529 20 



S24 10 

876 93 

1.442 57 

185 60 

82,529 20 



$1,000 00 
29 16 



Total, 



81.029 16 



SOUTH DANVERS MUTUAL FIRE INSURANCE CO. 



81 



Risks and Premiums. 



In force Dec. 31, 1911, . 
Written during the year, 

Total, . 
Expired and terminated, 

In force at end of year, . 



Risks. 

$2,231,630 00 
750,600 00 

$2,982,230 00 
816,525 00 



Conting't Prem's. 

$286,346 00 
97,592 00 

$383,938 00 
105,152 00 



$2,165,705 00 $278,786 00 



Miscellaneous. 

Net losses paid from organization of company, 

Losses incurred during the year, ...... 

Assessments laid during the year on deposit notes or contingent 
premiums, ......... 



$78,876 11 
2,933 94 

2,915 98 



SOUTH DANVERS MUTUAL FIRE INSURANCE COMPANY, 

PEABODY. 

Incorporated June 12, 1829. Commenced business Aug. 1, 1829. 
G. HORACE MERRILL, President. FRANK TAYLOR, Secretary. 

Income. 
Net premiums, .... 
Gross interest on stocks and bonds, 

$33.73, .... 
Gross profit on sale of stocks, 
Policy fees and permits, 

Total income, 
Ledger assets, Dec. 31, 1911, . 

Total, .... 

Disbursements. 
Net amount paid policy holders for losses, 
Expenses of adjustment and settlement of losses, 
Commissions or brokerage, .... 
Salaries, fees, etc., of officers and employees, 
Rents, 

Printing and stationery, 
Postage, telegrams, telephone and express, 
Furniture and fixtures, . 
State taxes on premiums, 
Dividends to policy holders, 
All other disbursements, 

Total disbursements, 

Balance, 

Ledger Assets. 
Book value of stocks and bonds (Schedule A), . 
Deposits in trust companies and banks on interest, 
Agents' balances, 

Total ledger assets, .... 



ik de] 


30sits, 


$10,193 38 

1,597 84 
240 00 
118 10 


$12,149 32 
32,544 20 


$44,693 52 






$1,755 71 
30 97 






949 48 






1,002 00 
189 54 






171 54 






114 56 






89 10 






88 23 






4,875 33 
77 22 


$9,343 68 


$35,349 84 


. $32,288 07 
2,098 08 


• 


963 69 


. $35,349 84 



82 



SOUTH DANVERS MUTUAL FIRE INSURANCE CO. 



Non-Ledger Assets. 

Interest due and accrued on bonds, 

Market value of stocks and bonds over book value, . 

Gross assets, ....... 

Liabilities. 
Unearned premiums on outstanding risks, 
Salaries, expenses and accounts, due or accrued, 
Federal, state and other taxes, due or accrued, 
Commissions and other charges due agents and brokers, 

Total, 

Surplus to policy holders, ..... 

Total liabilities, including surplus, 



$341 66 

838 93 



In force Dec. 31, 1911, . 
Written during the year, 

Total, . 
Expired and terminated, 

In force at end of year, . 
Deduct amount reinsured, 

Net amount in force, 



Risks and Premiums. 

Risks. 

$1,786,949 00 
631,105 00 



Cash Prem's. 

834,731 67 
11,251 34 



836,530 43 



818,221 16 

153 50 

33 52 

178 50 

$18,586 68 

17,943 75 

$36,530 43 



Conting't Prero'a. 

$104,195 01 
11,251 34 



$2,418,054 00 

464,112 00 

$1,953,942 00 

70,833 00 

$1,883,109 00 



$45,983 01 $115,446 35 
8,598 99 78,062 33 



$37,384 02 $37,384 02 
1,152 45 



$36,231 57 



Miscellaneous. 
Losses incurred during the year, ...... 

Dividends to policy holders during 1912, 20, 30, 40 and 60 per cent. 



$1,730 71 



Schedule A. Stocks and Bonds owned by the Company. 

Railroad Stocks. 
15 shares N. Y., N. H. & Hartford, . 
55 " Pennsylvania, 

Bank Stocks. 

1 share Cape Ann National, Gloucester, 
20 shares Warren National, Peabody, 

Miscellaneous Stocks. 
12 shares American Tel. & Tel. Co., . 
20 " Androscoggin Mills, Maine, 

2 " Nashua Manufacturing Co., 
20 " Naumkeag Steam Cotton Co., Salem, 

Municipal Bonds. 
Providence, R. I., 4s, 1921, 

Railroad Bonds. 
Boston & Maine 4s, 1942, 
N. Y. Central & Hudson River 3£s, 1997, 
Pennsylvania 3£s, 1915, 

Miscellaneous Bonds. 
American Tel. & Tel. Co. 4s, 1936, 
American Tel. & Tel. Co. 4s, 1929, 
New England Tel. & Tel. Co. 5s, 1932, 
Western Tel. & Tel. Co. 5s, 1932, 



Book Value. 


Rate. 


Market Value. 


$3,168 75 
3,199 36 


128 
122 


$1,920 00 
3,355 00 


150 
2,200 


00 
00 


150 
111 


150 00 
2,220 00 


1,476 

2,000 

960 

lem, . 2,045 


65 
00 
00 
00 


141 
160 
125 
154 


1,692 00 
3,200 00 
1.250 00 
3,080 00 


4,184 


44 


100 


4,000 00 


3,084 
2,094 
1,897 


50 
37 
50 


90 
87 

97 


2.700 00 
1.740 00 
1,940 00 


950 
1,790 
1,000 
2,087 


00 
00 
00 
50 


110 

89 

100 

100 


1,100 00 
1.7S0 00 
1.000 00 
2.000 00 


832,288 07 


833,127 00 



traders' and mechanics' INSURANCE CO. 



83 



TRADERS' AND MECHANICS' INSURANCE COMPANY, LOWELL. 

Incorporated June, 1848. Commenced business June, 1848. 
CHARLES C. HUTCHINSON, President. EDWARD M. TUCKE, Secretary. 

Income. 

Net premiums, ......... $187,755 83 

Gross interest on mortgages, $2,071.48; collaterals, $695; stocks 
and bonds, $19,920.25; bank deposits, $154.70; gross rents, 

$1,628.32, 

Borrowed money, ......... 

Dividends and return premiums on reinsurance, 

Commissions on reinsurance, ....... 

Stock dividend on Massachusetts Electric Co. stock, 

Total income, ........ 

Ledger assets, Dec. 31, 1911, ....... 



Total, 



Disbursements. 



Net amount paid policy holders for losses, 
Expenses of adjustment and settlement of losses, 
Commissions or brokerage, .... 

Salaries and expenses of special and general agents, 
Salaries, fees, etc., of officers and employees, 
Rents, ....... 

Advertising, printing and stationery, 
Postage, telegrams, telephone and express, 
Legal expenses, ...... 

Furniture' and fixtures, ..... 

Maps, including corrections, .... 

Underwriters' boards and tariff associations, 

Fire department, patrol and salvage corps fees and taxes, 

Repairs and expenses on real estate, 

Taxes on real estate, 

State taxes on premiums, 

Insurance department licenses and fees, 

Other licenses, fees and taxes, 

Dividends to policy holders, . 

Agents' balances charged off, . 

Gross loss on sale of real estate, 

Interest on borrowed money, . 

All other disbursements, 

Total disbursements, 

Balance, .... 

Ledger Assets. 
Book value of real estate, .... 
Mortgage loans on real estate, 
Loans secured by collateral (Schedule A), 
Book value of stocks and bonds (Schedule B), . 
Cash in office, 



24,469 75 
15,000 00 

2,284 17 
710 91 

3,500 00 

$233,720 66 
492,741 52 

$726,462 18 



$77,342 89 

1,729 72 
28,503 44 

6,000 00 
15,041 76 

1,720 00 

1,397 44 
866 35 
107 00 
558 00 

1,149 00 
563 28 
229 74 
489 28 
482 99 

2,377 30 
427 00 

1,246 77 
88,871 44 
138 62 
500 00 
731 25 
928 73 

$231,402 00 

$495,060 18 



$16,230 09 
42,430 60 
17,300 00 

393,900 00 
387 41 



84 



traders' and mechanics' insurant 



Deposits in trust companies and banks on interest, . 
Agents' balances, ........ 

Due from other companies, ...... 

Total ledger assets, ...... 

Non-Ledger Assets. 
Interest due and accrued on : — 
Mortgages, $440.05; bonds, $779.18; collateral loans, $124.04, 
Market value of real estate over book value, 
Market value of stocks and bonds over book value, . 

Gross assets, ........ 



Assets not admitted. 
Agents' balances over three months due, . 
Collateral loan in excess of market value, . 

Admitted assets, ..... 

Liabilities. 
Unpaid losses, including $2,417.88 resisted, 
Unearned premiums on outstanding risks, 
Interest accrued on borrowed money, 
Dividends due policy holders, 
Salaries, expenses and accounts, due or accrued, 
Federal, state and other taxes, due or accrued, 
Borrowed money, ...... 

Total, 

Surplus to policy holders, .... 

Total liabilities, including surplus, 



$1,474 80 
214 00 



In force Dec. 31, 1911, . 
Written during the year, 

Total, . 
Expired and terminated, 

In force at end of year, . 
Deduct amount reinsured, 

Net amount in force, 



Risks and Premiums. 

Risks. 

. $48,211,363 00 
. 12,938,391 00 



SI 0,633 89 

13,840 37 

337 82 

$495,060 18 



1,343 27 

769 91 

77,167 00 

$574,340 36 



1,688 80 
$572,651 56 



$8,762 56 

321,935 50 

246 53 

3,674 81 

75 00 

1,552 94 

25,000 00 

S361,247 34 
211,404 22 

$572,651 56 



Cash Prem's. Conting't Prem's. 

$710,438 26 $710,438 26 
199,897 04 199,897 04 



$61,149,754 00 
17,281,347 00 

$43,868,407 00 
793,704 00 



$910,335 30 S910,335 30 
251,190 43 251,190 43 



$659,144 87 
9,279 77 



$659,144 S7 



$43,074,703 00 S649,865 10 



Miscellaneous. 
Net premiums received from organization of company, . . $5,842.2^ 
Net losses paid from organization of company, . . . 2.414.272 32 

Cash dividends paid policy holders from organization of company, 2.331,706 38 
Losses incurred during the year, . . . . . SO. 630 68 

Dividends to policy holders during 1912, 20, 30, 40, 50 and 60 per cent. 



TRADERS AND MECHANICS INSURANCE CO. 



85 



Schedule A. Securities held as Collateral. 



4 shares Lowell Gas Light Co., 

2 " Tremont & Suffolk Mills, . 

22 " Deere & Co., preferred, 

20 " Amalgamated Copper Co., 

20 " U. S. Smelting Co. . 

10 " Esmond Mills, preferred, . 

10 " St. Mary's Mineral Land, . 

12 " American Tel. & Tel. Co., . 

145 " Massachusetts Electric Cos., preferred 

10 " Merrimack Mfg. Co., common, . 

6 " Merrimack Mfg. Co., preferred, . 



Railroad Stocks. 
Vermont & Massachusetts, 

Bank Stocks. 
Old Lowell National, 

Miscellaneous Stocks. 
Bigelow Carpet Co., Lowell, 
Boott Mills, Boston, 

Hamilton Mfg. Co 

Lawrence Gas Co., 
Lowell Gas Light Co., 
Massachusetts Cotton Mills, Lowell, 
Massachusetts Cotton Mills in Ga., 
Massachusetts Electric Cos., pref., 
Massachusetts Gas Co., preferred, 
Merrimack Mfg. Co., common, . 
Merrimack Mfg. Co., preferred, . 
Middlesex Co., 
Tremont & Suffolk Mills, . . ■ 



25 shares 
100 shares 

35 shares 

34 

20 

95 
462 
134 

68 
235 
200 
110 

66 
5 

50 

State Bonds. 
Massachusetts 3s, 1941, . 

Railroad Bonds. 
Boston & Maine 4-|s, 1944, 
Boston & Maine 4s, 1926, 
Illinois Central (Omaha Div.) 3s, 1951, 
Long Island City (No. Shore Br.) 5s, 1932, 
Long Island City & Flushing 5s, 1937, 
New England 5s, 1945, . 
Ogdensburg & Lake Champlain 4s, 1948, 
Rutland Canadian 4s, 1949, 
Southern 4s, 1951, . . . . . 

United Tr. & El. Co., Prov., R. I., 5s, 1933, 

Miscellaneous Bonds. 
American Tel. & Tel. Co. 4s, 1929, . 







Company's 


Loaned 




Market Value. 


Thereon. 






$1,200 00 \ 
220 75 


$1,000 00 






2,200 


00 ) 








1,500 


00 








1,000 


00 \ 


4,600 00 






1,030 


00 1 








430 


00 I 




li 




1,680 
11,020 


00 \ 
00 / 


10,500 00 






410 00* \ 
576 00* / 


1,200 00 




$21,266 75 


$17,300 00 


( OWNED BY THE 


Company. 


Book Value. 


Rate. 


Market Value. 


$2,500 00 


150 


$3,750 00 


10,000 00 


105 


10,500 00 


3,500 00 


170 


5,950 00 


3,400 00 


98 


3,332 00 


2,000 00 


90 


1,800 00 


9,500 00 


209 


19,855 00 


46,200 00 


302 


139,524 00 


13,400 00 


120 


16,080 00 


6,800 00 


100 


6,800 00 


23,500 00 


78 


18,330 00 


20,000 00 


94 


18,800 00 


11,000 00 


41 


4,510 00 


6,600 00 


96 


6,336 00 


500 00 


60 


300 00 


5,000 00 


115 


5,750 00 


25,000 00 


84 


21,000 00 


20,000 00 


98 


19,600 00 


25,000 00 


94 


23,500 00 


15,000 00 


75 


11,250 00 


10,000 00 


104 


10,400 00 


1,000 00 


104 


1,040 00 


10,000 00 


114 


11,400 00 


20,000 00 


86 


17,200 00 


20,000 00 


86 


17,200 00 


15,000 00 


88 


13,200 00 


15,000 00 


104 


15,600 00 


54,000 00 


89 


48,060 00 


$393,900 00 


$471,067 00 



* Department valuation. 



86 



UNITED DRUGGISTS MUTUAL FIRE INSURANCE CO. 



UNITED DRUGGISTS MUTUAL FIRE INSURANCE COMPANY, 

BOSTON. 

Incorporated Oct. 31, 1908. Commenced business Nov. 5, 1908. 
LOUIS K. LIGGETT, President. ARCHIE VV. CAMPBELL, Secretary. 

Guaranty Capital, $100,000. 

Office, !$ Leon Street, Roxbury. 
Income. 



bank deposits, $313.92; all 



Net premiums, 

Gross interest on bonds, $5,320.57 

other, $3.08, 
Gross profit on sale of bonds, 

Total income, 
Ledger assets, Dec. 31, 1911, 

Total, . 

Disbursements. 

Net amount paid policy holders for losses, 
Expenses of adjustment and settlement of losses, 
Salaries, fees, etc., of officers and employees, 
Rents, ..... 

Advertising, printing and stationery, 
Postage, telegrams, telephone and express, 
Furniture and fixtures, . 
State taxes on premiums, 
Dividends to policy holders, 
Dividends on guaranty capital, 
Uncollectible premiums, 
Gross loss on sale of bonds, 
All other disbursements, 

Total disbursements, 

Balance, 

Ledger Assets. 

Book value of bonds (Schedule A), 

Cash in office, 

Deposits in trust companies and banks on interest, 

Premiums in course of collection, 

Bills receivable, 

Total ledger assets, 

Non-Ledger Assets. 
Interest accrued on: — 
Bonds, $1,332.87; other assets, $14.63, . 

Gross assets, ...... 

Assets not admitted. 

Premiums over three months due, . 
Book value of bonds over market value, . 

Admitted assets, ..... 



$106,636 29 


5,637 57 


32 50 


$112,306 36 


162,826 59 


$275,132 95 


S61,769 52 


926 34 


10,286 01 


132 18 


1.729 92 


1,315 46 


204 95 


155 79 


28,935 44 


3,500 00 


134 63 


31 90 


465 63 


S109,587 77 


$165,545 18 


$138,372 73 


1,364 63 


17,820 29 


4 78 


182 75 


$165,545 18 



$429 07 
3,281 73 



1.347 50 



$166,892 68 



3,710 SO 
$163,1S1 SS 



UNITED DRUGGISTS MUTUAL FIRE INSURANCE CO. 



87 



Liabilities. 

Unpaid losses, $2,745.38; less reinsurance, $89.68, 
Unearned premiums on outstanding risks, 
Salaries, expenses and accounts, due or accrued, 
Due for reinsurance, ..... 

Total, / . . . 
Guaranty capital, ..... 

Surplus over all liabilities, .... 
Surplus to policy holders, .... 

Total liabilities, including surplus, 



$100,000 00 
2,564 06 



$2,655 70 

56,666 37 

273 61 

1,022 14 

$60,617 82 



102,564 06 
$163,181 88 



In force Dec. 31, 1911,* . 
Written during the year, 

Total, . 
Expired and terminated, 

In force at end of year, . 
Deduct amount reinsured, 

Net amount in force, 



Risks and Premiums. 

Risks. Cash Prem's. Conting't Prem's. 

$6,231,294 00 $103,097 40 $103,097 40 

6,836,560 00 125,830 77 125,830 77 



$13,067,854 00 
6,057,580 00 

$7,010,274 00 
850,993 00 



$228,928 17 
103,667 80 

$125,260 37 
13,852 24 



$228,928 17 
103,667 80 

$125,260 37 



$6,159,281 00 $111,408 13 



Miscellaneous. 
Net premiums received from organization of company, 
Net losses paid from organization of company, 
Cash dividends paid policy holders from organization of company, 
Losses incurred during the year, ...... 

Dividends to policy holders during 1912, 40 and 25 per cent. 

Schedule A. Bonds owned by the Company. 

State and Municipal Bonds. Book Value. Rate. 

Boston, Mass., tax exempt 4s, 1914-15, . . $10,12150 100 

Boston, Mass., tax exempt 4s, 1919, . . . 5,061 00 101 

Chelsea, Mass., tax exempt 4s, 1958, . . . 10,887 50 100 

Gloucester, Mass., tax exempt 4s, 1913-27, . 15,375 00 100 

Haverhill, Mass., tax exempt 4s, 1916, . . 5,134 00 101 

Hyde Park, Mass., tax exempt 4s, 1915, . . 1,012 93 100 

Hyde Park, Mass., tax exempt 4s, 1916, . . 1,016 65 101 

Marblehead, Mass., tax exempt 4s, 1915-16, . 2,032 60 100 

Marblehead, Mass., tax exempt 4s, 1917-21, . 3,099 40 101 

Massachusetts tax exempt 3|s, 1950, . . . 10,212 00 99 

Methuen, Mass., tax exempt 4s, 1914-15, . . 2,022 50 100 

North Chicago, 111., 5s, 1914, . . . . 100 00 101 

Worcester, Mass., tax exempt 4s, 1920, . . 5,173 00 102 

Worcester, Mass., tax exempt 4s, 1930, . . 32,265 00 105 

Railroad Bonds. 

Canadian Northern equipment 4£s, 1914-15, . 9,914 40 99 

Chicago, Rock Island & Pacific deb. 5s, 1932, . 4,875 00 89 

Virginia 5s, 1962, 4,950 00 99 

Miscellaneous Bonds. 

American Locomotive Co. 5s, 1914, . " . . 5,020 25 100 

Minneapolis Gas Light Co. 5s, 1930, . . . 5,000 00 100 

People's Gas Light & Coke Co. 5s, 1947, . . 5,100 00 101 

$138,372 73 



$312,567 88 

121,005 38 

77,296 57 

49,616 78 



Market Value. 

$10,000 00 

5,050 00 

10,000 00 

15,000 00 

5,050 00 

1,000 00 

1,010 00 

2,000 00 

3,030 00 

9,900 00 

2,000 00 

101 00 

5,100 00 

31,500 00 

9,900 00 
4,450 00 
4,950 00 

5,000 00 
5,000 00 
5,050 00 

$135,091 00 



* The amount of risks has been increased $3,000 and the premiums $30 on account of error in 1911 state- 
ment. 



88 



WEST NEWBURY MUTUAL FIRE INSURANCE CO. 



WEST NEWBURY MUTUAL FIRE INSURANCE COMPANY, 

WEST NEWBURY. 

Incorporated March, 1828. Commenced business April, 1828. 
RICHARD NEWELL, President. DANIEL COONEY, Secretary. 

[Note. This company relies upon assessments on deposit notes to pay losses and expenses.] 

Income. 

Assessments, 
Policy fees, . 
Borrowed money, . 

Total income, 
Ledger assets, Dec. 31, 1911, 

Total, .... 

Disbursements. 
Net amount paid policy holders for losses, 
Expenses of adjustment and settlement of losses, 
Commissions or brokerage, .... 

Salaries, fees, etc., of officers and employees, 
Rents, ........ 

Printing and stationery, .... 

Postage, telegrams, telephone and express, 
State taxes on assessments, .... 

Borrowed money repaid, .... 

Interest on borrowed money, .... 

Assessment returned, ..... 

All other disbursements, .... 

Total disbursements, .... 

Balance, ...... 

Ledger Assets. 
Cash in office, ...... 

Deposits in trust companies and banks not on interest, 

Total ledger assets, 

Furniture and safe, 
Unpaid assessments, 

Gross assets, . 

Furniture and safe, 
Admitted assets, 



Non-Ledger Assets. 





$6,980 90 




110 50 




3,418 20 




$10,509 60 




69 40 




. $10,579 00 




$4,488 21 




32 50 




351 25 




417 95 




17 00 




42 80 




41 29 




59 53 




4,768 20 




209 47 




13 65 




9 00 




$10,450 85 




S12S 15 




SI 29 


st, 


126 86 


• 


$128 15 




75 00 


• 


122 69 



Assets not admitted. 



Liabilities. 

Interest due or accrued on borrowed money, 
Commissions and other charges due agents and brokers, 
Borrowed money, ....... 

Total, 



$325 $4 



75 00 






$13 S6 

6 13 

2,300 00 

$2,319 99 



WORCESTER MANUFACTURERS MUTUAL INSURANCE CO. 



89 



Risks and Premiums. 



In force Dec. 31, 1911, . 

Written during the year, 

Total, . 
Expired and terminated, 

In force at end of year, . 



Risks. 

$1,606,120 00 
245,745 00 

$1,851,865 00 
287,585 00 



Conting't Prem's. 

$122,476 96 
19,724 40 

$142,201 36 
22,720 86 



$1,564,280 00 $119,480 50 



Miscellaneous. 

Net losses since 1879, $95,980 76 

Losses incurred during the year, ...... 4,488 21 

Assessments laid during the year on deposit notes or contingent 

premiums, ......... 7,236 51 



WORCESTER MANUFACTURERS' MUTUAL INSURANCE COMPANY, 

WORCESTER. 

Incorporated March 31, 1855. Commenced business March 31, 1855. 
WALDO E. BUCK, President. WALTER A. HARRINGTON, Secretary. 

Income. 

Net premiums, $699,086 02 

Gross interest on stocks and bonds, $32,284.91; bank deposits, 

$3,237.42, 35,522 33 

Gross profit on sale of stocks, ...... 2,200 00 

Total income, ..... 

Ledger assets, Dec. 31, 1911, .... 

Total, 

Disbursements. 

Net amount paid policy holders for losses, 
Salaries, fees, etc., of officers and employees, 
Rents, ....... 

Advertising, printing and stationery, 
Postage, telegrams, telephone and express, 
Furniture and fixtures, ..... 

Fire department, patrol and salvage corps fees and taxes, . 
Inspection department, for inspections, maps, plans and adjust- 
ment of losses, ........ 

State taxes on premiums, ...... 

Insurance department licenses and fees, .... 

Other licenses, fees and taxes, ..... 

Dividends to policy holders, ...... 

Gross decrease in book value of bonds, 

All other disbursements, ...... 

Total disbursements, ...... 

Balance, $920,157 41 



$736,808 35 


886,450 22 


$1,623,258 57 


$27,776 02 


14,505 57 


2,550 00 


759 86 


636 90 


776 48 


76 86 


15,077 76 


^7,137 47 


78 00 


3,441 62 


628,735 91 


587 50 


961 21 


$703,101 16 



90 WORCESTER MANUFACTURERS' MUTUAL INSURANCE CO. 



Ledger Assets. 

Book value of stocks and bonds (Schedule A), .... 8784,14241 

Cash in office, ......... 60 47 

Deposits in trust companies and banks on interest, . . . 112,922 85 

Premiums in course of collection, ...... 23,031 68 



Total ledger assets, $920,157 41 

Non-Ledger Assets. 
Interest accrued on bonds, ....... 9,839 58 



Gross assets, $929,996 99 

Assets not admitted. 
Book value of stocks and bonds over market value, . . . 21,938 41 



Admitted assets, $908,058 58 

Liabilities. 

Unpaid losses, $2,947 66 

Unearned premiums on outstanding risks, .... 440,784 10 

Federal, state and other taxes, due or accrued, . . . 7,980 60 



Total, $451,712 36 

Surplus to policy holders, ....... 456,346 22 



Total liabilities, including surplus, ..... $908,058 58 

Risks and Premiums. 

Risks. Cash Pram's. Coating't Prem's. 

In force Dec. 31, 1911, . . $115,983,457 00 $847,236 07 $4,236,180 35 
Written during the year, . 100,422,126 00 720,42194 3,602,109 70 



Total, .... $216,405,583 00 $1,567,658 01 $7,838,290 05 
Expired and terminated, . 95,507,207 00 689,596 27 3,447,981 35 



In force at end of year, . . $120,898,376 00 $878,061 74 $4,390,308 70 

Miscellaneous. 
Net premiums received from organization of company, . .$14,041,114 95 
Net losses paid from organization of company, . . . 1,706,680 32 

Cash dividends paid policy holders from organization of company, 1 1,259,947 12 
Losses incurred during the year, ...... 29,544 63 

Dividends to policy holders during 1912, 94, 88, 82 and 76 per cent. 

Schedule A. Stocks and Bonds owned by the Company. 

Railroad Stocks. Book Value. Rate. Market Value. 

52 shares Norwich & Worcester, preferred, . $10,700 00 202 $10,504 00 

100 " Southern Pacific, .... 10,775 00 108 10,800 00 

100 " Union Pacific, preferred, . . . 7,700 00 92 9,200 00 

Miscellaneous Stocks. 

200 shares Northwestern Telegraph Co., . . 12,487 50 118 11,800 00 

State and Municipal Bonds. 

New York 4s, 1961 30,000 00 101 30,300 00 

New York, N. Y., 4s, 1958 20,000 00 96 19,200 00 



WORCESTER MUTUAL FIRE INSURANCE CO. 



91 



Railroad Bonds. 
Atch., Topeka & Santa Fe general 4s, 1995, 
Boston & Albany 3£s, 1951, 
Boston & Albany 4s, 1934, 
Boston & Lowell 3*3, 1923, 
Boston & Lowell 4s, 1932, 
Boston & Maine 4§s, 1944, 
Boston & Maine 4s, 1926, 
Central of New Jersey 5s, 1987, 
Chesapeake & Ohio 4*s. 1992, . 
Chicago, Burlington & Quincy 4s, 1958, 
Chicago, Burlington & Quincy 3^s, 1949, 
Chicago, Indiana & Southern 4s, 1956, 
Chicago Jet. & Union Stock Yards 5s, 1915, 
Chicago & Northwestern 4s, 1987, 
Chicago, Rock Island & Pacific 4s, 2002, 
Chicago, Rock Island & Pacific 1st ref. 4s, 1934, 
Concord & Montreal 4s, 1920, . 
Delaware & Hudson 4s, 1943, 
Erie (Pennsylvania col.) 4s, 1951, 
Kansas City Terminal 1st 4s, 1960, 
Lake Shore & Michigan Southern 4s, 1928, 
Lake Shore & Michigan Southern 4s, 1931, 
New London Northern 4s, 1940, 
New York Central equipment 4|s, 1923, 
Nor. Pac.-Gt. Nor. (C, B. & Q. col.) 4s, 1921, 
Ogdensburg & Lake Champlain 4s, 1948, 
Old Colony 4s, 1924, 
Oregon R.R. & Navigation Co. 4s, 1946, 
Oregon Short Line 5s, 1946, 
Oregon Short Line 4s, 1929, 
Oregon-Wash. R.R. & Navigation 1st 4s, 1961, 
Pennsylvania convertible 3^s, 1915, 
Providence & Worcester 4s, 1947, 
Richmond-Washington 4s, 1943, 
Rio Grande Western 4s, 1939, . 
Southern Pacific convertible 4s, 1929, 
Toronto, Hamilton & Buffalo 4s, 1946, 
Union Pacific 4s, 1947, .... 
West End Street 4$s, 1914, 
West End Street 4s, 1915, 
Wisconsin Central 4s, 1949, 

Miscellaneous Bonds. 
American Agricultural Chemical Co. 5s, 1928, 
American Tel. & Tel. Co. 4s, 1929, . 
Massachusetts Gas Co. 4§s, 1929, 
New York Telephone Co. 1st 4£s, 1939, 



Book Value. 
$15,000 00 
15,000 00 
19,800 00 
20,000 00 
20,000 00 
20,000 00 

9,800 00 
10,000 00 
15,000 00 
35,000 00 
14,456 25 

9,487 50 
10,000 00 
19,500 00 

8,912 50 

9,062 50 
45,000 00 
19,950 00 

9,400 00 
14,662 50 
20,000 00 

8,750 00 
24,812 
19,763 
23,531 
10,000 
15,000 
10,000 

5,000 00 
19,475 00 
13,961 25 
24,000 00 
50,000 00 
10,000 00 
10,000 00 

9,888 75 

4,887 50 

5,000 00 
10,000 00 
10,000 00 

9,200 00 

9,950 00 
9,800 00 
9,703 75 
9,725 00 

$784,142 41 



50 
66 
25 
00 
00 
00 



Rate. 
97 
84 
95 
93 
95 
98 
94 

119 

100 
95 
86 
92 

100 
98 
66 
87 
98 
99 
89 
95 
92 
92 
98 
99 
96 
86 
98 
94 

109 
92 
91 
97 
98 
95 
84 
93 
89 
99 

100 
99 
91 

101 

89 
98 
97 



00 
00 
00 
00 
00 
00 
00 
00 
00 
00 



Market Value. 
$14,550 00 
12,600 
19,000 
18,600 
19,000 
19,600 

9,400 
11,900 
15,000 
33,250 
12,900 

9,200 00 
10,000 00 
19,600 00 

6,600 00 

8,700 00 
44,100 00 
19,800 00 

8,900 
14,250 
18,400 

9,200 
24,500 
19,800 
24,000 

8,600 
14,700 

9,400 

5,450 00 
18,400 00 
13,650 00 
24,250 00 
49,000 00 

9,500 00 

8,400 

9,300 

4,450 

4,950 
10,000 

9,900 

9,100 



00 
00 
00 
00 
00 
00 
00 
00 
00 
00 



00 
00 
00 
00 
00 
00 
00 



10,100 00 
8,900 00 
9,800 00 
9,700 00 

$762,204 00 



WORCESTER MUTUAL FIRE INSURANCE COMPANY, WORCESTER. 

Incorporated Feb. 11, 1823. Commenced business May 1, 1824. 
LEWIS N. GILBERT, President. ROGER F. UPHAM, Secretary. 

Income. 

Net premiums, ......... 

Gross interest on mortgages, $9,935.81; bonds, $19,697.50; bank 
deposits, $1,472.85; gross rents, including $1,800 for company's 
own occupancy, $11,148.77, 

Dividends on reinsurance, ....... 

From all other sources, ........ 



$131,504 36 



42,254 93 
119 54 
292 24 



Total income, 
Ledger assets, Dec. 31, 1911, . 

Total, . 



$174,171 07 

845,582 87 

$1,019,753 94 



92 



WORCESTER MUTUAL FIRE INSURANCE CO. 



Disbursements. 
Net amount paid policy holders for losses, 
Expenses of adjustment and settlement of losses, 
Commissions or brokerage, ..... 

Agency expenses, ....... 

Salaries, fees, etc., of officers and employees, 
Rents, for company's own occupancy, 
Advertising, printing and stationery, 
Postage, telegrams, telephone and express, 
Furniture and fixtures, ...... 

Maps, including corrections, ..... 

Underwriters' boards and tariff associations, 

Fire department, patrol and salvage corps fees and taxes, 

Inspections and surveys, ..... 

Repairs and expenses on real estate, 

Taxes on real estate, ...... 

State taxes on premiums, ..... 

Insurance department licenses and fees, . 

Other licenses, fees and taxes, .... 

Dividends to policy holders, ..... 

All other disbursements, ..... 

Total disbursements, ..... 

Balance, ....... 

Ledger Assets. 

Book value of real estate, .... 

Mortgage loans on real estate, 

Book value of bonds (Schedule A), . 

Cash in office, ...... 

Deposits in trust companies and banks on interest, 
Agents' balances, ...... 

Total ledger assets, ....... 

Xon-Ledger Assets. 

Interest due and accrued on : — 
Mortgages, $2,472.66; bonds, $7,046.18; other assets, $151.96, . 
Rents accrued on company's property, ..... 
Market value of real estate over book value, .... 

Gross assets, ......... 

Assets not admitted. 

Book value of bonds over market value, . . 831,910 00 

Mortgage loans and accrued interest in excess of 

appraisal, ....... 295 97 



30 
07 
12 
91 



47 

54 
00 



Admitted assets, ..... 

Liabilities. 
Unpaid losses, ...... 

Unearned premiums on outstanding risks, 

Dividends due policy holders, 

Salaries, expenses and accounts, due or accrued, 



$40,620 89 

801 56 

19,037 37 

41 35 

17,22*; 

1,800 00 

2,008 00 

1,157 

668 

442 

377 

309 03 

735 43 

1,899 

2,856 

1,369 

137 

2,757 87 

69,88*; 

94 49 

S164,227 20 

".520 74 



S100,000 00 

181,797 00 

500,000 00 

958 35 

64,612 94 

8,158 45 

5,526 74 



9,670 80 

935 90 

12,600 00 

$878,733 44 



32,205 97 
SS46.527 47 



$4,355 74 
265,208 24 

1,922 60 
SIS 30 



WORCESTER MUTUAL FIRE INSURANCE CO. 



93 



Federal, state and other taxes, due or accrued, 
Due for return premiums, 

Total, 

Surplus to policy holders, 

Total liabilities, including surplus, 



,885 02 
766 32 



$274,956 22 
571,571 25 

$846,527 47 



In force Dec. 31, 1911, . 
Written during the year, 

Total, . 
Expired and terminated, 

In force at end of year, . 
Deduct amount reinsured, 

Xet amount in force, 



Risks and Premiums. 

Risks. Cash Prem's. Conting't Prem's. 

$39,877,652 00 $538,052 15 $538,052 15 

10,275,231 00 137,967 52 137,967 52 



$50,152,883 00 
10,793,658 00 

$39,359,225 00 
3,000 00 



$676,019 67 $676,019 67 
146,261 31 146,261 31 



$529,758 36 $529,758 36 
70 40 



$39,356,225 00 $529,687 96 



Miscellaneous. 
Net premiums received since 1875, ..... 

Net losses paid since 1875, ...... 

Cash dividends paid policy holders since 1875, . 

Losses incurred during the year, ...... 

Dividends to policy holders during 1912, 20, 40 and 60 per cent, 

Schedule A. Bonds owned by the Company. 



$4,777,743 00 

1,412,087 00 

2,710,494 00 

44,106 63 



State and Municipal Bonds. 
Massachusetts 3is, 1945, . 
Massachusetts 3^s, 1934, . 
New York, N. Y., 4|s, 1960, 
New York, N. Y., 4£s, 1957, 

Railroad Bonds. 
Bangor & Aroostook consolidated 4s, 1951, 
Boston & Albany 3|s, 1951, 
Boston & Albany 4s, 1933-35, 
Boston Elevated 4§s, 1937, 
Boston Elevated 4s, 1935, 
Boston & Lowell 3fs, 1921, 
Boston & Maine 4£s, 1944, 
Boston & Maine 4s, 1937, 
Boston & Maine 4s, 1926, 
Boston & Northern Street 4s, 1954, 
Boston & Worcester Street 4£s, 1923, 
Cent, Pac. (Through Short Line) 4s, 1954, 
Chicago, Burl. & Quincy (111. Div.) 3|s, 1949, 
Chic, Milwaukee & St. Paul 1st gen. 4s, 1989, 
Chicago & Northwestern 4s, 1987, 
Chicago, Rock Island & Pacific gen. 4s, 1988, 
Chicago, Rock Island & Pacific 1st ref .' 4s, 1934, 
Chicago & Western Indiana cons. 4s, 1952, 
Cincinnati, Hamilton & Dayton gen. 5s, 1942, 
Cm., Ind., St. Louis & Chicago 1st 4s, 1936, 
Concord & Montreal 1st 4s, 1920, 
Delaware & Hudson 1st ref. 4s, 1943, 
Iitchburg 1st 4s, 1927, 

Illinois Cent. (St. L. Div. & Ter.) 1st 3§s, 1951, 
Illinois Cent. (Louisville Div. & Ter.) 3§s, 1953, 
Maine Central 1st 4s, 1933, 
Michigan Central 1st 4s, 1940, 
Minn., St. P. & S. Ste. Marie cons. ref. 4s, 1938, 



Book Value. 
§15,000 00 
5,000 00 
5,000 00 
5,000 00 



00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 



5,000 

5,000 
20,000 
10,000 

5,000 
50,000 

5,000 
10,000 
10,000 

5,000 

5,000 

5,000 
15,000 
10,000 00 

5,000 00 
10,000 00 
32,000 00 
10,000 00 
12,000 00 
20,000 00 
20,000 00 
10,000 00 
25,000 00 
13,000 00 
13,000 00 

7,000 00 

5,000 00 
10,000 00 



Rate. 

99 

99 

100 

105 

81 
84 
95 
96 
90 
94 
98 
91 
94 
90 
95 
91 
86 
99 
98 
93 
87 
89 
102 
97 
98 
99 
97 
85 
85 
95 
98 
96 



Market Value. 

$14,850 00 
4,950 00 
5,000 00 
5,250 00 

4,050 00 

4,200 00 
19,000 00 

9,600 00 

4,500 00 
47,000 00 

4,900 00 

9,100 00 

9,400 00 

4,500 

4,750 

4,550 
12,900 

9,900 

4,900 

9,300 
27,840 00 

8.900 00 
12,240 00 
19,400 00 
19,600 00 

9,900 00 
24,250 00 
11,050 
11,050 

6,650 

4,900 



00 
00 
00 
00 
00 
00 
00 



00 
00 
00 
00 



9,600 00 



94 



WORCESTER MUTUAL FIRE INSURANCE CO. 



Mohawk & Malone 4s, 1991, 

N. Y. Central & Hudson River 1st 3§s, 1997, 

N. Y., N. H. & Hartford deb. 4s, 1955, 

N. Y., N. H. & Hartford deb. 4s, 1947, 

N. Y., N. H. & Hartford deb. 3*s, 1947, . 

Pere Marquette 1st 4s, 1943, 

St. Paul, Minn. & Manitoba 4s, 1933, 

St. Paul, Minn. & Manitoba 4-Js, 1933, 

Toledo, Walhonding Yal. & Ohio 1st 4s, 1942, 

West End Street deb. 4£s, 1930, 

West End Street deb. 4s, 1915, . 

Worcester Consolidated Street 4^3, 1920, 

Worcester, Nashua & Rochester 1st 4s, 1930, 

Worcester, Nashua & Rochester 1st 4s, 1934, 



Book Value. 


Rate. 


Market Value. 


$9,000 00 


99 


$8,910 00 


6,000 00 


87 


5,220 00 


20,000 00 


90 


18,000 00 


10,000 00 


91 


9,100 00 


10,000 00 


80 


8,000 00 


5,000 00 


78 


3,900 00 


3,000 00 


98 


2,940 00 


5,000 00 


105 


5,250 00 


20,000 00 


96 


19,200 00 


10,000 00 


101 


10,100 00 


6,000 00 


99 


5,940 00 


5,000 00 


100 


5,000 00 


5,000 00 


95 


750 00 


4,000 00 


95 


3,800 00 


8500,000 00 


$468,090 00 



BOSTON INSURANCE CO. 



95 



MASSACHUSETTS JOINT-STOCK FIRE, MARINE AND 
FIRE-MARINE INSURANCE COMPANIES. 



BOSTON INSURANCE COMPANY, BOSTON. 

Incorporated Dec. 23, 1873. Commenced business Jan. 20, 1874. 

Paid-up Capital, $1,000,000. 

RANSOM B. FULLER, President. FREEMAN NICKERSON, Secretary. 

Office, 137 Milk Street 



Net premiums, 



Income. 
,540,825.83; marine, $1,615,500.70, 



Gross interest on mortgages, $23,361.03; collaterals, $3,146.18; 

stocks and bonds, $190,106.76; bank deposits, $5,835.39; all 

other, $1,218.65; gross rents, $3,091.70, 
Agents' balances previously charged off, . 
Gross profit on sale of stocks and bonds, . 
Profit from home office agency, 
Dividends from banks in liquidation, 
Borrowed money, ...... 

Total income, ..... 

Ledger assets, Dec. 31, 1911, .... 



Total, 



Disbursements. 



Net amount paid policy holders for fire losses, $898,379.03; 

marine, $859,378.13, 

Expenses of adjustment and settlement of losses, 
Commissions or brokerage, .... 

Agency expenses, ...... 

Salaries and expenses of special and general agents, 
Salaries, fees, etc., of officers and employees, 
Rents, ....... 

Advertising, printing and stationery, 
Postage, telegrams, telephones and express, 
Legal expenses, ...... 

Furniture and fixtures, ..... 

Maps, including corrections, .... 

Underwriters' boards and tariff associations, 

Fire department, patrol and salvage corps fees and taxes, 

Inspections and surveys, 

Repairs and expenses on real estate, 

Taxes on real estate, 

State taxes on premiums, 

Insurance department licenses and fees, 

Other licenses, fees and taxes, 

Dividends to stockholders, 

Agents' balances charged off, . 



$3,156,326 53 



226,759 71 

439 40 

20,395 17 

2,817 92 

1,925 00 

200,000 00 

$3,608,663 73 

6,252,899 69 

$9,861,563 42 



.,757,757 16 

30,634 23 

685,879 54 

2,761 80 

87,540 07 

195,290 54 

21,116 00 

26,853 87 

13,317 23 

1,080 53 

1,631 58 

4,839 79 

18,370 07 

11,649 21 

8,558 34 

3,135 45 

3,250 80 

38,886 90 

9,145 91 

5,058 01 

210,000 00 

5,300 53 



96 



BOSTON INSURANCE CO. 



Gross loss on sale of ledger assets, .... 
Borrowed money repaid, ..... 

Interest on borrowed money, ..... 
All other disbursements, ..... 

Total disbursements, ..... 

Balance, ....... 

Ledger Assets. 
Book value of real estate, ..... 

Mortgage loans on real estate, 

Loans secured by collateral (Schedule A), 

Book value of stocks and bonds (Schedule B), . 

Cash in office, ....... 

Deposits in trust companies and banks not on interest, 
Deposits in trust companies and banks on interest, . 
Agents' balances, ....... 

Bills receivable, ....... 

Notes receivable, ....... 

Deposits with fire boards, ..... 



Total ledger assets, 



108 68 

200,000 00 

566 67 

15,335 04 

S3,362,367 95 

S6,499,195 47 



§294,000 00 

485,800 00 

27,600 00 

4,677,147 45 

".7 80 

4,128 04 

400,971 92 

542,605 56 

60,909 49 

-, 21 

700 00 

S6,499,195 47 



Non-Ledger Assets. 



Interest due and accrued on : — 
Mortgages, $5,614.66; bonds, §11,843.21; collateral loans, 857.67, 
Market value of stocks and bonds over book value, . 
Due from other companies, ....... 



Gross assets, ...... 

Assets not admitted. 

Agents' balances over three months due, . 
Notes receivable, ...... 

Bills receivable, past due, taken for premiums, 
Collateral loan and accrued interest disallowed, 
Mortgage loan and accrued interest in excess 
appraisal, ....... 

Deposits with fire boards, .... 



17,515 54 

212,426 55 

5 49 

86,729,603 05 



of 



$22,990 36 

675 21 
5,849 58 
2,039 67 



1,153 
700 



01 
00 



Admitted assets,' 



Liabilities. 



Unpaid losses, including 827,066.07 resisted, 8502,512.26; less 

reinsurance, $111,459.61, .... 
Unearned premiums on outstanding risks, 
Dividends declared and unpaid to stockholders, 
Salaries, expenses and accounts, due or accrued, 
Federal, state and other taxes, due or accrued. 
Commissions and other charges due agents and brokers, 

Total, 



33,407 S3 
86,696,195 22 



8391,052 65 

2.110.114 68 

' 60,000 00 

1,662 02 

33,011 93 

49,649 22 

§2.645.490 50 



* These assets include deposits in this country amounting to S9.930, which the company has made 
for the protection of certain policy holders. Liabilities of $2,719.09 have accrued against these deposits, 
which are included in the total liabilities of the company. The excess of these deposits over corresponding 
liabilities is S7.210.91, which is included in the surplus and is subject to a lien under the conditions of the 
special deposit, which, in certain contingencies, would, it should be noted, remove said excess from the 
funds available to pay the claims of general policy holders. 



BOSTON INSURANCE CO. 



97 



Cash capital, .... 

Surplus over all liabilities, 
Surplus to policy holders, 

Total liabilities, including surplus, 



$1,000,000 00 
3,050,704 72 



$4,050,704 72 
$6,696,195 22 



Fire risks in force Dec. 31, 1911, 
Fire risks written during the year, 

Total, 
Expired and terminated, 

In force at end of year, . 
Deduct amount reinsured, 

Net amount in force, 



Marine risks in force Dec. 31, 1911, 
Marine risks written during the year, 

Total, . 
Expired and terminated, 

In force at end of year, . 
Deduct amount reinsured, 

Net amount in force, 



Risks and Premiums. 

Risks. Premiums. 

$361,781,650 00 $3,505,966 10 



254,777,095 00 2,509,931 64 



$616,558,745 00 $6,015,897 74 
236,352,068 00 2,323,342 01 



$380,206,677 00 $3,692,555 73 
82,493,052 00 823,242 52 



$297,713,625 00 $2,869,313 21 

$40,267,512 00 $1,269,749 31 
164,463,867 00 2,142,212 21 



$204,731,379 00 $3,411,961 52 
164,705,935 00 2,148,231 30 



$40,025,444 00 $1,263,730 22 
2,316,412 00 73,804 64 



$37,709,032 00 $1,189,925 58 



Miscellaneous. 

Net premiums received from organization of company, 

Net losses paid from organization of company, 

Cash dividends declared from organization of company, 

Fire losses incurred during the year, 

Marine and inland losses incurred during the year, . 

Dividends declared during the year (22 per cent.), 

Par value of company's stock owned by directors, 



$52,234,667 72 
32,948,541 60 
4,510,000 00 
893,352 23 
847,929 05 
220,000 00 
134,800 00 



Schedule A. Securities held as Collateral. 

Company's 

Market Value 

$1,000 00 

21,250 00 

9,000 00 

preferred, . . 12,000 00 

2,500 00 



4 shares Union Ins. Co., Bangor, 
850 " New River Co., preferred, . 
100 " Jordan, Burnham Coal Co., 
300 " Boston & Worcester Elec. Cos. 
Personal property, .... 



$45,750 00 



Loaned 
Thereon. 
$600 00 

25,000 00 

2,000 00 

$27,600 00 



Schedule B. Stocks and Bonds 

Railroad Stocks 
500 shares Boston & Albany, 



2,500 
100 

1,000 
550 
400 
300 

1,100 



Boston Elevated, 

Boston & Lowell, 

Boston & Maine, 

Canadian Pacific, 

Chic, Mil. & St. Paul, common, 

Chic, Mil. & St. Paul, preferred, 

Delaware & Hudson Co., 



OWNED BY THE 

Book Value. 

$102,501 78 

316,951 79 

16,412 50 

137,322 78 

94,660 00 

45,024 29 

40,085 63 

193,103 12 



Company. 



Rate. 
214 
115 
206 
98 
260 
113 
140 
166 



Market Value. 
$107,000 00 
287,500 

20,600 

98,000 
143,000 

45,200 

42,000 



00 
00 
00 
00 
00 
00 



182,600 00 



98 



BOSTON INSURANCE CO. 



250 shares Fitchburg, preferred, 
50 " Manchester & Lawrence, 
1,700 " N. Y. Central & Hudson River, 
1,750 " New York, New Haven & Hartford, 

100 " Northern Pacific, . 

425 " Old Colony, . 
5,000 " Pennsylvania, 

250 " Southern Pacific Co., 

200 M Union Pacific, 

Bank Stocks. 

100 shares Brookline Trust Co., 

666 " First National, Boston, . 
Equity in 100 shares First Nat., Salem (in liq.), 
17 shares Grand National, Marblehead, . 

100 " Mercantile National, Salem, 

500 " Merchants National, Boston, . 

100 " Merchants National, Salem, 

100 " Merchants National, Worcester, 

450 " Shawmut National, Boston, 
Equity in 50 shares Tremont Nat., Boston (in liq.) 
154 shares Webster & Atlas National, Boston, 
Miscellaneous Stocks. 

500 shares American Sugar Refining Co., pref., 
2,100 " American Tel. & Tel. Co., 

900 " Edison Elec. Illuminating Co., 

150 " Edison Elec. Ilium. Co. sub. in full, 
1 share General Adjust. Bureau, New York, 

100 shares General Electric Co., 
3,585 " Old Colony Insurance Co., 

500 " Pullman Co., 

5 " Underwriters' Salvage Co., N. Y., 

300 " Western Union Telegraph Co., 
State and Municipal Bonds. 
Boston, Mass., tax exempt 4s, 1928, . 
Boston, Mass., tax exempt 3§s, 1939, 
Boston, Mass., tax exempt 3js, 1949, 
Georgia 4§s, 1915, .... 
Georgia 3£s, 1918-20, 
Georgia 3Js, 1928, .... 
Massachusetts tax exempt 3Js, 1928-46, 

Railroad Bonds. 
Atch., Top. & Santa Fe general 4s, 1995, 
Atch., Top. & Santa Fe adjustment 4s, 1995, 
Boston Elevated 4s, 1935, 
Boston & Lowell 4s, 1932, 
Boston & Maine 4s, 1926, 
Chicago, Milwaukee & St. Paul 4|s, 1932, 
Fitchburg 4s, 1925, .... 

Fitchburg 4s, 1927 

Fitchburg 4£s, 1928, 

Illinois Central (Louisville Division) 3jS, 1953, 

Maine Central 4s, 1914, .... 

N. Y. Cent. & Hud. R. (Lake Sh. col.) 3*s, 1998, 

N. Y., N. H. & H. convertible deb. 6s, 194S, 

Old Colony 4s, 1925, 

Oregon Short Line 6s, 1922, 

Oregon Short Line cons. 1st 5s, 1946, 

Southern Pacific Co., convertible 4s, 1929, 

Southern 4s, 1951 

St. Louis & San Francisco general 5s, 1927, 
West End Street 4s, 1932, 
Wisconsin Central 4s, 1949, 

Miscellaneous Bonds. 
Booth Manufacturing Co. con v. 45s, 1931, 
Mallory Steamship Co. 5s, 1932, 



Book Value. 
$20,808 38 

12,582 50 
199,195 93 
298,405 69 

13,812 50 

77,937 
312,670 

30,668 

35,550 



51 
99 
75 
00 



10,000 00 
159,633 00 

5,793 13 

2,040 00 
12,285 37 
87,619 13 

6,822 
15,000 
48,390 

2,556 



75 
00 
61 
50 



21,108 50 

62,239 01 
244,951 01 
201,120 00 

32,250 00 
50 00 

15,412 50 
815,713 30 

33,011 25 
500 00 

23,856 25 

52,875 00 
9,987 50 

76,903 75 
5,700 00 
4,300 00 
1,102 50 

89,800 10 

39,676 07 
21,931 36 
50,000 00 
25,500 00 
48,375 00 
10,500 00 
51,125 00 
10,687 50 
53,312 50 
23,750 00 
49,687 50 
44,550 00 
41,703 80 
16,462 50 
10,000 00 
600 CO 
7,654 87 
2,510 22 
22,437 50 
25,000 00 
11,718 33 

25,000 00 
96,250 00 

S4,677,147 45 



Rate. 
121 
223 
109 
128 
121 
177 
122 
108 
164 

250 
460 

5 
118 
120 
303 
170 
190 
243 

1 
187 

118 
141 
284 
215 
100 
189 
200 
165 
150 
76 

102 
96 
95 

101 
98 
96 
99 

97 

88 
90 
95 
94 

105 
97 
97 

101 
85 
99 
79 

125 
98 

111 

109 
93 
88 

94 
91 

100 

88 



Market Value. 
$30,250 00 
11,150 

185,800 

224,000 

12,100 

305,000 
27,000 



00 
00 
00 
00 
00 
00 
00 



32,800 00 



25,000 

306,300 

500 

2,006 

12,000 

151,500 

8,500 

19,000 

109,350 

50 



00 
00 
00 
00 
00 
00 
00 
00 
00 
00 



28,798 00 

59,000 00 
296,100 00 
255,600 00 

32,250 00 
50 00 

18,900 00 
717,000 00 

82,500 00 
750 00 

22,800 00 



51,000 00 
9,600 00 

73,150 

5,050 

3,920 

960 

87,120 



00 
00 
00 
00 
00 



00 
00 
00 
00 
00 
00 



54,320 
26,400 

23,750 
47,000 
11,025 
48,500 00 

9,700 00 
50,500 
21,250 
49,500 
39,500 
52 125 
14.700 
11,100 
545 

7,440 

1,760 
20.500 
23,500 
10,920 



00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 



25,000 00 
88 100 00 

§4,889,574 00 



MASSACHUSETTS FIRE AND MARINE INSURANCE CO. 



99 



MASSACHUSETTS FIRE AND MARINE INSURANCE COMPANY, 

BOSTON. 

Incorporated March 3, 1910. Commenced business June 18, 1910. 
Cash Capital, $500,000. 
EVERETT C. BENTON, President. WALTER ADLARD, Secretary. 



Home Office, 95 Water Street. 

Income. 

Net fire premiums, $407,170.91, marine, $124,339.47, 

Gross interest on stocks and bonds, $37,806.30; bank deposits, 

$1,832.02; all other, $6.30, 

Gross profit on sale of stocks and bonds, .... 

Gross increase in book value of bonds, 

Total income, ..... 

Ledger assets, Dec. 31, 1911, .... 

Total, 

Disbursements. 
Net amount paid policy holders for fire losses, $195,451.36 

marine, $27,067.06, 

Expenses of adjustment and settlement of losses, 
Commissions or brokerage, .... 

Agency expenses, ...... 

Salaries and expenses of special and general agents, 
Salaries, fees, etc., of officers and employees, 
Rents, ....... 

Advertising, printing and stationery, 
Postage, telegrams, telephone and express, 
Furniture and fixtures, ..... 

Maps, including corrections, .... 

Underwriters' boards and tariff associations, 

Fire department, patrol and salvage corps fees and taxes, 

Inspections and surveys, .... 

State taxes on premiums, .... 

Insurance department licenses and fees, . 

Other licenses, fees and taxes, 

Gross decrease in book value of bonds, 

All other disbursements, .... 

Total disbursements, .... 

Balance, ...... 

Ledger Assets. 
Loans secured by collateral (Schedule A), 
Book value of stocks and bonds (Schedule B), . 
Cash in office, ...... 

Deposits in trust companies and banks on interest, 
Agents' balances, ...... 

Total ledger assets, .... 



$531,510 38 

39,644 62 

863 73 

791 85 





. $572,810 58 


• 


. 1,190,950 52 


• 


. $1,763,761 10 


$195,451. 


36; 


. 


. $222,518 42 


. 


3,946 37 


. . 


136,819 90 


# t 


200 49 




16,305 79 




30,042 59 


. . 


6,498 84 


, 


9,230 31 


, . 


2.601 97 


, , 


1,137 82 


. 


1,509 58 


. 


3,808 75 


axes, . 


4,992 46 


. , 


2,289 33 


, 


4,639 01 


, 


1,979 00 


. 


1,575 07 


. . 


1,343 81 


• 


858 53 


• 


. $452,298 04 


• 


. $1,311,463 06 




. $50,000 00 




. 1,107,853 74 




755 39 




58,011 81 




94,842 12 



$1,311,463 06 



100 



MASSACHUSETTS FIRE AXD MARINE INSURANCE CO. 



Non-Ledger Assets. 
Interest accrued on: — 
Bonds, $8,446.33; collateral loans, $240.28; other assets, S134.47, 
Market value of stocks and bonds over book value, . 

Gross assets, ......... 

Assets not admitted. 
Agents' balances over three months due, .... 

Admitted assets,* ........ 

Liabilities. 
Unpaid losses, $58,785.78; less reinsurance, $3,502.70, 
Unearned premiums on outstanding risks, 
Salaries, expenses and accounts, due or accrued, 
Federal, state and other taxes, due or accrued, 

Total, 

Cash capital, $500,000 00 

Surplus over all liabilities, . . . 374,408 36 

Surplus to policy holders, 

Total liabilities, including surplus, 

Risks and Premiums. 



$8,821 08 
20,297 26 

$1,340,581 40 



1,524 46 
$1,339,056 94 



$55,283 08 
399,283 56 
76 19 
7,60." " 

$464,648^58 



874,408 36 
$1,339,056 94 



Fire risks in force Dec. 31, 1911, 
Fire risks written during the year, 

Total, .... 
Expired and terminated, 

In force at end of year, . 
Deduct amount reinsured, 

Xet amount in force, 



Marine risks in force Dec. 31, 1911, 
Marine risks written during the year, 

Total, . . 
Expired and terminated, 

In force at end of year, . 
Deduct amount reinsured, 

Xet amount in force, 



Risks. 

S45,891,667 00 
53,550,142 00 

$99,441,809 00 
35,484,011 00 

$63,957,798 00 
7,590,226 00 



Premiums. 

$460,329 87 
538,899 05 

$999,22S 92 
354,504 38 

$644,724 54 
70,947 89 



$56,367,572 00 $573,776 65 



S737,368 00 
9,417,483 00 

$10,154,851 00 
5,795,780 00 

$4,359,071 00 
240,922 00 



$26,377 71 
168,325 42 

$194,703 13 
65.15S 97 

$129,544 16 
8,284 32 



$4,118,149 00 $121,259 $4 



Miscellaneous. 
Net premiums received from organization of company, 
Net losses paid from organization of company, 
Fire losses incurred during the year, 
Marine and inland losses incurred during the year, 
Par value of company's stock owned by directors, 



$1,073,383 24 

359,639 25 

213.134 41 

36.32$ 96 

76,900 00 



* These assets include deposits in this country amounting to $11,400, which the company has made 
for the protection of certain policy holders. Liabilities of $19,949.85 have accrued against these deposits, 
which are included in the total liabilities of the company. 



MASSACHUSETTS FIRE AND MARINE INSURANCE CO. 



101 



50 shares American Ag. Chem. common, 
American Zinc 6s, 1915, 
50 shares Anaconda, 



Schedule A. Securities held as Collateral. 

Company's 
Market Value. 

$2,700 00 
4,500 00 
1,900 00 

12,350 00 
8,600 00 
9,180 00 

10,800 00 
6,600 00 
4,800 00 
5,000 00 



247 il Boston & Worcester Elec, preferred, 

200 " Butte & Superior, 

17 " Calumet & Hecla, 

150 " Granby Cons., .... 

100 " Mackay Cos., .... 

100 " United Shoe Machinery, common, 

50 " Waltham Watch, preferred, 



$66,430 00 



Loaned 
Thereon. 



$50,000 00 



$50,000 00 



Schedule B. Stocks and Bonds owned by the 



Railroad Stocks. 
62 shares Old Colony, 

Bank. Stocks. 
167 shares First National, Boston, 
39 " Merchants National, Boston, 
100 " Merchants National. Worcester, 
150 " Old Colony Trust Co., Boston, 

Miscellaneous Stocks. 
100 shares Edison Elec. 111. Co., Boston, 
50 " Lowell Electric Light Co., . 
35 " New Bedford Gas & Edison Lt. Co., 
200 " New England Tel. & Tel. Co.. 
5 " Underwriters' Salvage Co., N. 
500 " Western Union Telegraph Co., 
42 " Worcester Gas Light Co., . 

Government Bonds. 
United States 4s, 1925, 

State and Municipal Bonds. 
Boston, Mass., tax exempt 3?s, 1939, 
Boston, Mass., tax exempt 3is, 1949, 
Greenfield, Mass., fire district, tax ex. 4s, 1913-16 
Greenfield, Mass., fire dist., tax ex. 4s, 1917-28, 
Greenfield, Mass., fire dist., tax ex. 4s, 1929-30, 
Holyoke, Mass., tax exempt 4s, 1933-35, 
Lowell, Mass., tax exempt 4s, 1913-16, 
Massachusetts tax exempt 3£s, 1922, . 
Massachusetts tax exempt 3£s, 1928-48, 
Massachusetts tax exempt 3s, 1936, . 
Massachusetts tax exempt 3s, 1949, . 
Methuen, Mass., tax exempt 4s, 1924-28, 
Methuen, Mass., tax exempt 4s, 1929-30, 
New Bedford, Mass., tax exempt 4s, 1924-27, 
No. Attleboro, Mass., tax exempt 4s, 1937-39, 
Wayland, Mass., tax exempt 4s, 1913-16, . 
Wayland, Mass., tax exempt 4s, 1917-28, . 
Wayland, Mass., tax exempt 4s, 1929-30, . 

Railroad Bonds. 
Boston Terminal Co. 3 is, 1947, 
Detroit Term. & Tunnel 1st 4§s, 1961, 
New York, New Haven & Hartford 5s, 1913, 
Ore.-Wash. R.R. & Nav. Co. 1st ref. 4s, 1961, 

Miscellaneous Bonds. 
American Telephone & Telegraph Co. 4s, 1929, 
Columbus Electric Co., Ga., 5s, 1914, 
New England Tel. & Tel. Co. 5s, 1932, 



Book Value. 
$11,594 99 

60,140 00 
11,973 00 
17,500 00 
47,591 25 

27,562 50 
10,125 00 
11,112 50 
30,388 99 
950 00 
40,225 00 
13,125 00 

11,060 50 

143,385 00 
47,540 00 
12,094 80 
37,149 30 

6,289 50 

17,615 30 

35,305 56 

994 20 

150,986 

3,554 
34,452 
14,323 

6,163 
43,038 30 
16,578 40 

6,050 40 
14,969 00 

2,102 75 

49,939 50 
20,000 00 
49,875 00 
18,556 00 

9,042 00 
24,500 00 
50,000 00 

$1,107,853 74 



Company. 

Rate. Market Value. 
177 $10,974 00 



60 
00 
00 
60 
80 



460 
303 
190 
348 

284 
201 
315 
156 
150 
76 
295 

114 

96 

95 

100 

101 

102 

102 

100 

100 

99 

91 

89 

101 

102 

102 

103 

100 

101 

102 

96 

99 

100 

91 

89 

99 

100 



76,820 00 
11,817 00 
19,000 00 
52,200 00 

28,400 00 
10,050 00 
11,025 00 
31,200 00 
750 00 
38,000 00 
12,390 00 

11,400 00 

144,000 00 
47,500 00 
12,000 00 
36,360 00 

6,120 00 
17,340 00 
35,200 00 

1,000 00 
153,450 00 

3,640 00 
35,600 00 
14,140 00 

6,120 00 
42,840 00 
16,480 00 

6,000 00 
14,645 00 

2,040 00 

48,000 00 
19,800 00 
50,000 00 
18,200 00 

8,900 00 
24,750 00 
50,000 00 

,128,151 00 



102 



OLD COLONY INSURANCE CO. 



OLD COLONY INSURANCE COMPANY, BOSTON. 

Incorporated June 2, 1906. Commenced business June 7, 1906. 

Paid-up Capital, $400,000. 

RANSOM B. FULLER, President. CHARLES D. HODGES, Secretary 

Office, 137 Milk Street. 

Income. 

Net fire premiums, $432,582.98, marine, $144,160.10, 

Gross interest on mortgages, $2,895; stocks and bonds, $43,857 

bank deposits, $1,355.81; all other, $32.34, 
Agents' balances previously charged off, 
Gross profit on sale of stocks, 



Total income, 
Ledger assets, Dec. 31, 1911, . 

Total, 

Disbursements. 

Net amount paid policy holders for fire losses, $247,990.40; 

marine, $67,724.13, 

Expenses of adjustment and settlement of losses, 
Commissions or brokerage, .... 

Agency expenses, ...... 

Salaries and expenses of special and general agents, 
Salaries, fees, etc., of officers and employees, 
Rents, ........ 

Advertising, printing and stationery, 
Postage, telegrams, telephone and express, 
Legal expenses, ...... 

Furniture and fixtures, ..... 

Maps, including corrections, .... 

Underwriters' boards and tariff associations, 

Fire department, patrol and salvage corps fees and taxes, 

Inspections and surveys, .... 

State taxes on premiums, 

Insurance department licenses and fees, . 

Other licenses, fees and taxes, 

Agents' balances charged off, .... 

All other disbursements, .... 

Total disbursements, .... 

Balance, ...... 

Ledger Assets. 
Mortgage loans on real estate, 
Book value of stocks and bonds (Schedule A), . 
Cash in office, ...... 

Deposits in trust companies and banks on interest, 
Agents' balances, ...... 

Bills receivable, ...... 

Deposits with fire boards, .... 

Total ledger assets, .... 



$576,743 08 

48,140 15 

11 25 

929 50 



$625,823 98 
1,236,031 16 

$1,861,855 14 



$315,714 53 

7,390 35 

129,368 84 

3,923 47 

10,368 37 

18,137 69 

500 04 

3,623 40 

59S 76 

356 13 

125 82 

94 36 

4,133 49 

4,394 78 

2,415 48 

5,460 41 

6,162 28 

944 90 

225 62 

719 46 

$514,658 18 

$1,347,196 96 



$60,000 00 

1,105,046 29 

9,85s 40 

83,197 S2 

88,504 45 

390 00 

200 00 

$1,347,196 96 



OLD COLONY INSURANCE CO. 



103 



Non-Ledger Assets. 
Interest accrued on : — 
Mortgages, $60; bonds, $3,075, 

Gross assets, ...... 

Assets not admitted. 

Agents' balances over three months due, . 

Book value of stocks and bonds over market value, 

Deposits with fire boards, .... 



$3,135 00 
$1,350,331 96 



$817 62 

14,546 29 

200 00 



Admitted assets, ........ 

Liabilities. 
Unpaid losses, including $5,250 resisted, $99,026.82; less reinsur- 
ance, $33,591.34, . . 
Unearned premiums on outstanding risks, 
Salaries, expenses and accounts, due or accrued, 
Federal, state and other taxes, due or accrued, 
Commissions and other charges due agents and brokers, 
Due for reinsurance, ...... 



Total, 

Cash capital, . . . 

Surplus over all liabilities, .... 

Surplus to policy holders, . . . . — 

Total liabilities, including surplus, 

Risks and Premiums. 



$400,000 00 
453,455 32 



15,563 91 
$1,334,768 05 



$65,435 48 

400,647 70 

102 60 

5,055 16 

9,835 47 

236 32 

$481,312 73 



853,455 32 
$1,334,768 05 



Fire risks in force Dec. 31, 1911, 
Fire risks written during the year, 

Total, . 
Expired and terminated, 

In force at end of year, . 
Deduct amount reinsured, 

Net amount in force, 



Marine risks in force Dec. 31, 1911, 
Marine risks written during the year, 

Total, 

Expired and terminated, 

In force at end of year, . 
Deduct amount reinsured, 

Net amount in force, 



$76,804,498 00 
70,540,806 00 

$147,345,304 00 
62,300,153 00 

$85,045,151 00 
20,713,082 00 



Premiums. 

$818,077 69 
724,758 38 

$1,542,836 07 
662,043 68 

$880,792 39 
248,761 90 



$64,332,069 00 $632,030 49 



$5,090,946 00 
12,080,438 00 

$17,171,384 00 
10,573,775 00 

$6,597,609 00 
2,458,204 00 



$151,789 79 
282,736 13 

$434,525 92 
242,239 40 

$192,286 52 
68,067 78 



1,139,405 00 $124,218 74 



Miscellaneous. 
Net premiums received from organization of company, 
Net losses paid from organization of company, 
Cash dividends declared from organization of company, 



$2,930,182 79 

1,542,125 88 

48,000 00 



104 



SPRINGFIELD FIRE AND MARINE INSURANCE CO. 



Fire losses incurred during the year, 

Marine and inland losses incurred during the year, 

Par value of company's stock owned by directors, 



$246,871 89 
73,089 13 
22,400 00 



Schedule A. Stocks and Bonds owned by the Company. 



Railroad Stocks. 
500 shares Boston Elevated, . 
300 " Boston & Maine, . 
150 " Canadian Pacific, . 
500 " New York, New Haven & Hartford, 
200 " Old Colony, . 
1,200 " Pennsylvania, 

Bank Stocks. 
200 shares First National, Boston, . 
100 " Merchants National, Worcester, 
150 " National Shawmut, Boston, 
Miscellaneous Stocks. 
1,000 shares Amer. Telephone & Telegraph Co 
350 " Edison Electric Illuminating Co., 
1 share General Adjustment Bureau, N. Y 
100 shares Pullman Co., 
200 " Western Union Telegraph Co., 
Municipal Bonds. 
Boston, Mass., 3^s, 1925, . 
Boston, Mass., tax exempt 3|s, 1929, 
Springfield, Mass., tax exempt 3|s, 1934-35, 

Railroad Bonds. 
New York, New Haven & Hartford 4s, 1956, 



Book Value. 
$64,161 25 
41,615 50 
39,575 00 
75,037 50 
37,075 00 
72,750 00 

75,254 75 
15,800 00 
32,863 53 

134,475 06 

85,967 25 

50 00 

16,200 00 

15,893 75 

99,250 00 

206,250 00 

42,077 70 

50,750 00 
§1,105,046 29 



Rate. 
115 
98 
260 
128 
177 
122 

460 
190 
243 

141 

284 

100 

165 

76 

95 
97 
96 

90 



Market Value. 

$57,500 00 
29,400 00 
30.000 00 
64,000 00 
35,400 00 
73,200 00 

92,000 00 
19,000 00 
36,450 00 

141,000 00 

99,400 00 

50 00 

16,500 00 

15,200 00 

95,000 00 

194,000 00 

38,400 00 

45,000 00 
81,090,500 00 



SPRINGFIELD FIRE AND MARINE INSURANCE COMPANY, 

SPRINGFIELD. 

Incorporated 1849. Commenced business 1851. 

Paid-up Capital, $2,000,000. 

A. W. DAMON, President. W. J. MACKAY, Secretary 

Office, 195 State Street. 






Income. 

Net fire premiums, ....... 

Gross interest on mortgages, $67,025.96; stocks and bonds, 

$335,501.68; bank deposits, $4,085.31; all other, $456.60; gross 

rents, for company's own occupancy, $18,000, 
Agents' balances previously charged off, . 
Gross profit on sale of bonds, .... 

Recovered on real estate previously charged off, 
Taxes refunded, ...... 

Dividends from banks in liquidation, 
Increase in Munich Reinsurance Fund, 

Total income, ..... 

Ledger assets, Dec. 31, 1911, .... 

Total, 

Disbursements. 

Net amount paid policy holders for fire losses, . 
Expenses of adjustment and settlement of losses, 
Commissions or brokerage, .... 



$5,456731 18 



425,069 55 

228 57 

34,043 02 

3,834 58 

9,359 83 

7.450 00 

25,262 25 

85,961,978 98 
9,684,439 53 

,$15,646,418 51 



$2,894,270 60 

40,293 12 

1,055.260 54 



SPRINGFIELD FIRE AND MARINE INSURANCE CO. 



105 



Agency expenses, ....... 

Salaries and expenses of special and general agents, . 

Salaries, fees, etc., of officers and employees, 

Rents, including $18,000 for company's own occupancy, 

Advertising, printing and stationery, 

Postage, telegrams, telephone and express, 

Legal expenses, ....... 

Furniture and fixtures, ...... 

Maps, including corrections, ..... 

Underwriters' boards and tariff associations, 

Fire department, patrol and salvage corps fees and taxes, 

Inspections and surveys, 

Repairs and expenses on real estate, 

Taxes on real estate, 

State taxes on premiums, 

Insurance department licenses and fees, 

Other licenses, fees and taxes, 

Dividends to stockholders, 

Agents' balances charged off, . 

Gross loss on sale of bonds, 

Gross decrease in book value of stocks, 

Interest on Munich Reinsurance Fund, 

All other disbursements, 

Total disbursements, 

Balance, .... 

Ledger Assets. 

Book value of real estate, ..... 

Mortgage loans on real estate, .... 

Book value of stocks and bonds (Schedule A), . 
Cash in office, ....... 

Deposits in trust companies and banks not on interest, 
Deposits in trust companies and banks on interest, . 
Agents' balances, ....... 

Total ledger assets, ..... 



$26,078 67 

309,590 43 

320,983 34 

35,161 74 

74,158 35 

28,441 47 

8.190 94 
8,411 05 

17,695 29 

59,387 93 

34,146 81 

37,533 07 

636 55 

4,549 25 

88,573 86 

25.627 28 

28,102 29 

200,000 00 

2.191 99 
643 50 

5,000 00 

9,329 13 

12,407 20 

$5,326,664 40 

$10,319,754 11 



$300,000 00 

1,716,370 00 

6,639,489 19 

674 87 

354,447 56 

304,241 71 

1,004,530 78 

$10,319,754 11 



Non-Ledger Assets. 



Interest accrued on : — 



Mortgages, $38,482.44; bonds, $14,157.45, 
Market value of stocks and bonds over book value, 

Gross assets, ...... 



52,639 89 
691,306 81 

$11,063,700 81 



Assets not admitted. 
Agents' balances over three months due, . . $7,008 15 

Special deposits less $195,637.85 liability thereon, . 45,342 15 

Admitted assets,* ....... 



52,350 30 
$11,011,350 51 



* These assets include deposits in this country amounting to $104,250, which the company has made for 
the protection of certain policy holders. Liabilities have accrued against these deposits, which are 
included in the total liabilities of the company. The excess of these deposits over corresponding liabilities 
is $5,065.65, which is included in the surplus and is subject to a lien under the conditions of the special 
deposit, which, in certain contingencies, would, it should be noted, remove said excess from the funds 
available to pay the claims of general policy holders. 



106 



SPRINGFIELD FIRE AND MARINE INSURANCE CO. 



Liabilities. 

Unpaid losses, including $45,185.47 resisted, $544,606.94; less 

reinsurance, $75,373.17, .... 
Unearned premiums on outstanding risks, 
Salaries, expenses and accounts, due or accrued, 
Federal, state and other taxes due or accrued, . 
Munich Reinsurance Fund, .... 
Interest accrued on Munich Reinsurance Fund, 



$2,000,000 00 
3,220,703 23 



$469,233 77 

5,001,299 55 

8,000 00 

50.000 00 

257,222 29 

4,891 67 

$5,790,647 28 



Total, 

Cash capital, ..... 

Surplus over all liabilities, 

Surplus to policy holders, .... 

Total liabilities, including surplus, 

Risks and Premiums. 

Risks. Premiums. 

Fire risks in force Dec. 31, 1911, . . . $903,473,654 00 $10,279,923 61 



5,220,703 23 
$11,011,350 51 



Fire risks written during the year, 

Total, .... 
Expired and terminated, 

In force at end of year, . 
Deduct amount reinsured, 

Net amount in force, 



655,413,176 00 7,550,569 79 



$1,558,886,830 00 $17,830,493 40 
. 594,124,496 00 7,019,271 78 



. $964,762,334 00 $10,811,221 62 
. 108,426,775 00 1,211,035 01 



$856,335,559 00 $9,600,186 61 



Miscellaneous. 

Net premiums received from organization of company, 

Net losses paid from organization of company, 

Cash dividends declared from organization of company, 

Stock dividends declared from organization of company, 

Fire losses incurred during the year, 

Dividends declared during the year (10 per cent.), 

Par value of company's stock owned by directors, 



$97,596,489 83 

55,532.404 38 

6,354,542 00 

1,500,000 00 

2.912,288 73 

200,000 00 

102,200 00 



Schedule A. Stocks and Bonds owned by the Company. 



Railroad Stocks. 

500 shares Atch., Topeka & Santa Fe, com., 

500 " Atch., Topeka & Santa Fe, pref., 

1,000 " Baltimore & Ohio, . 

660 " Canadian Pacific, 

1,000 " Chic, Milwaukee & St. Paul, com., 

2,000 " Chic, Milwaukee & St. Paul, pref., 

1,250 " Chicago & Northwestern, 

400 " Connecticut River, 

1,000 " Great Northern, pref., 

1,050 " Holyoke Street, 

1,150 " Illinois Central, 

1,500 " Manhattan, . 

6,000 " New York, New Haven & Hartford, 

1,000 " Northern Pacific, . 

6,000 " Pennsylvania, 

1,000 " Southern Pacific Co., 

500 " Southern, pref., 

1,000 " Union Pacific, 



Book Value. 

$49,486 25 

49,330 83 



00 
50 
31 
88 
00 



104,375 
114,287 
115,378 
247,171 
162,575 
98,800 00 
122,050 00 
157,0 1 B . 5 
133,806 28 
232,262 50 
972,933 87 
135,955 50 
350,316 34 
99,712 35 
47,200 00 
114,254 40 



Rate. 
108 
102 
105 
260 
113 
140 
138 
250 
130 
183 
127 
131 
128 
121 
122 
108 
80 
164 



Market Value 
■00 00 
51,000 
105,000 
171,600 
113,000 
280,000 
172,500 
100,000 00 
130,000 00 
192,150 
146,050 
196.500 

121,000 

366,000 

108,000 

40.000^00 

164.000 JX) 



00 
00 
00 
00 
00 
00 



00 
00 
00 
00 
00 
00 
00 



SPRINGFIELD FIRE AND MARINE INSURANCE CO. 



107 



Bank Stocks. 
150 shares Boylston National, Boston, 
250 " Chapin National, Springfield, 
300 " Chicopee National, Springfield, 
300 " City National, Holyoke, . 
100 " Eliot National, Boston, . 

1,250 " First National, Boston, . 
99 " First National, Northampton, 
350 " Fourth National, New York, 
100 " Holyoke National, Holyoke, 
150 " Merchants National, Boston, 
500 " Merchants National, Worcester, 
400 " National Bk. of Com., Boston, 
300 " National Bk. of Com., New York, 

1,714 " National Shawmut, Boston, 

1 122 " Northampton National, . 
100 " Old Boston National, Boston, . 
300 " Old Colony Trust Co., Boston, 
500 " Second National, Boston, 
200 " Springfield National, 
500 " Third National, Springfield, 
100 " Webster & Atlas Nat., Boston, 

Miscellaneous Stocks. 
500 shares American Express Co., 
600 " Amer. Telephone & Telegraph Co., 
500 " Fitchburg Gas & Electric Lt. Co., 
100 " Holyoke Water Power Co., 
200 " Lynn Gas & Electric Co., 

1,000 " Mass. Gas Cos., pref., . 

1,050 " N. E. Inv. & Security Co., pref., 

1,250 " No. Boston Lighting prop., com., 

2,300 " No. Boston Lighting prop., pref., 
900 " Pullman Co., 
160 " Salem Gas Light Co., 
400 " Springfield Gas Light Co., 
10 Underwriters Salvage Co., Chicago, 

10 " Underwriters Salvage Co., New York 
240 " United Elec. Light Co., Springfield, 
State, County and Municipal Bonds. 

Georgia 4|s, 1915, ..... 

Hamilton, Ont., 4s, 1932 

Montreal, Canada, Cath. Sch., com., 4s, 1948, 

Montreal, Can., Prot. Bd. Sch. Comrs. 4s, 1938, 

Nova Scotia, Canada, 4£s, 1915, 

Outremont, Que., school 4£s, 1950, 

Port of Portland, Ore., dry dock 4s, 1933, . 

Richmond, Va., 4s, 1938, .... 

Valencia Countv, New Mexico, 5s, 1932, 

Victoria, B. C, 4s, 1951, . 

Westmount, Quebec, 4£s, 1947, 

Winnipeg, Manitoba, 4s, 1925, 

Winnipeg. Manitoba, 4s, 1934, 

Winston, N. C, 4£s, 1940, 

Railroad Bonds 
Chic, Mil. & St. Paul conv. 4£s, 1932, 
N. Y., N,. H. & Hartford conv. deb. 6s, 1948, 
Peoria Ry. 1 st and ref . 5s, 1925, 
Southern Pacific conv. 4s, 1929, 

Miscellaneous Bonds. 
American Writing Paper Co., Holyoke, 5s, 1919, 
Western United Gas & Electric Co. 5s, 1940, 



Book Value, 

$2 1,238 00 

31,302 50 

41,694 00 

33,328 75 

6,496 75 

382,900 00 

14.041 50 
53,918 25 
15,800 00 
20,083 
81,275 
60,262 
48,380 

281,525 

22,912 

12,216 

91,487 
107,945 

39,070 

90.042 50 
13,056 00 



00 
00 
13 
13 
10 
00 
25 
50 
00 
00 



101,487 50 
73,950 00 
56,260 62 
27,055 00 
86,600 00 
86,000 00 

101,412 50 

285,133 23 
66,160 35 
35,200 00 
91,930 43 
1,000 00 
1,000 00 
62,098 00 

11,425 00 
11,685 00 
24,421 25 
24,000 00 
25,375 00 
50,793 75 
50,000 00 
58,300 00 
10,550 00 
14,508 75 
35,262 50 
53,380 50 
4,793 75 
30,080 00 

45,000 00 
64,000 00 
96,000 00 
48,345 37 

81,331 57 
49,000 00 

1,639,489 19 



Rate. 

115 

115 

188 

113 

200 

460 

136 

202 

200 

303 

190 

225 

200 

243 

200 

126 

348 

290 

210 

228 

187 

163 
141 
246 
403 
435 
94 
94 
32 
128 
165 
250 
280 
100 
150 
250 

101 
94 
93 
94 

101 
98 
95 
97 

105 
95 

102 
98 
97 

101 

105 

125 

98 

93 

89 
100 



00 
00 
00 
00 



Market Value. 

$17,250 00 
28,750 00 
56,400 00 
33,900 00 
20,000 00 

575,000 00 
13,464 00 
70,700 00 
20,000 00 
45,450 00 
95,000 00 
90,000 
60,000 

416,502 
24,400 
12,600 00 

104,400 00 

145,000 00 
42,000 00 

114,000 00 
18,700 00 

81,500 00 

84,600 00 

61,500 00 

40,300 CO 

87,000 00 

94,000 

98,700 

40,000 

294,400 

148,500 00 

40,000 00 

112,000 00 

1,000 00 

1,500 00 

60,000 00 

10,100 00 
11,280 00 
23,250 00 
23,500 00 
25,250 00 
49,000 00 
47,500 00 
53,350 00 
10,500 00 
14,250 00 
35,700 00 
53,900 00 
4,850 00 
30,300 00 

47,250 00 
80,000 00 
98,000 00 
46,500 00 

89,000 00 
50,000 00 

$7,330,796 00 



00 
00 
00 
00 



108 



.ETNA INSURANCE CO. 



FIRE, MARINE AND FIRE-MARINE INSURANCE COMPANIES 

OF OTHER STATES, 



iETNA INSURANCE COMPANY, HARTFORD, CONN. 

Incorporated June, 1819. Commenced business Aug. 17, 1819. 

Paid-up Capital, $5,000,000. 

WM. B. CLARK, President. E. J. SLOAN", Secretary. 

Home Office, 670 Main Street. 



Income. 

Net fire premiums, $8,182,198.35, marine, $1,392,232.44, . 

Deposit premiums on perpetual risks, . 

Gross interest on stocks and bonds, $850,089.65; bank deposits, 

$25,556.37; all other, $2,491.07; gross rents, including $25,000 

for company's own occupancy, $25,300, 
Agents' balances previously charged off, .... 

Gross profit on sale or maturity of bonds and stocks, 
Conscience money, ....... 

Increase in reserve on account of reinsurance treaties, 



S9,574,430 79 
9,753 28 



Total income, 
Ledger assets, Dec. 31, 1911, 

Total, . 



903,437 09 

44 29 

65,946 68 

625 00 

109 83 

$10,554,346 96 
. 20,533,843 34 



Disbursements. 



Net amount paid policy holders for fire losses, $4,224,241.65 

marine, $753,732.94, 

Expenses of adjustment and settlement of losses, 

Commissions or brokerage, ..... 

Salaries and expenses of special and general agents, . 

Salaries, fees, etc., of officers and employees, 

Rents, including $25,000 for company's own occupancy, 

Advertising, printing and stationery, 

Postage, telegrams, telephone and express 

Legal expenses, .... 

Furniture and fixtures, . 

Maps, including corrections, . 

Underwriters' boards and tariff associations, 

Fire department, patrol and salvage corps fees and taxes, 

Inspections and surveys, 

Repairs and expenses on real estate. 

Taxes on real estate, 

State taxes on premiums, 

Insurance department licenses and fees, 

Other licenses, fees and taxes, 

Deposit premiums returned, . 

Dividends to stockholders, 

Agents' balances charged off, . 



$31,088,190 30 


! $4,977,974 59 


57,195 14 


1,856,453 32 


332.243 75 


398,236 87 


63,993 10 


108,909 13 


58,032 74 


9,998 84 


19,261 55 


17,967 03 


81,595 77 


19.646 30 


68,788 24 


3,713 90 


9,709 25 


152,734 74 


29,057 41 


211,357 17 


3,396 60 


S00,000 00 


2.2S7 64 



iETNA INSURANCE CO. 



109 



Gross loss on sale or maturity of stocks and bonds, . 
Interest on reinsurance reserve, .... 
Talbot County, Ga., bonds charged off, . 
All other disbursements, ..... 

Total disbursements, ..... 

Balance, ....... 

Ledger Assets. 
Book value of real estate, . . . 

Loans secured by collateral (1,000 shares New York, New Haven 
& Hartford Railroad), ..... 

Book value of stocks and bonds (Schedule A), . 
Cash in office, ....... 

Deposits in trust companies and banks not on interest, 
Deposits in trust companies and banks on interest, 
Agents' balances, ....... 

Total ledger assets, ..... 

Non-Ledger Assets. 
Interest accrued on : — 
Bonds, $94,621.95; collateral loans, $833.33, 
Market value of stocks and bonds over book value, . 

Gross assets,* ...... 



$51,378 00 

19,076 50 

550 00 

34,007 94 

$9,387,568 52 

$21,700,621 78 



$592,207 93 

100,000 00 

17,662,503 34 

4,136 84 

35,574 98 

1,678,394 70 

1,627,803 99 

.$21,700,621 78 



95,455 28 
1,435,691 26 

$23,231,768 32 



Assets not admitted. 

Agents' balances over three months due, . . $7,671 57 

Accrued interest on bonds in default, . . . 40 00 

Book value of real estate over market value, . . 217,207 93 

Special deposits less $229,241.30 liability thereon, . 24,011 70 

Admitted assets, f ..... 

Liabilities. 

Unpaid losses, including $55,845.77 resisted, $959,093.08; less 

reinsurance, $221,107.29, .... 
Unearned premiums on outstanding risks, 
Reclaimable on perpetual fire policies, 
Salaries, expenses and accounts, due or accrued, 
Federal, state and other taxes, due or accrued, 
Reserve on account of reinsurance treaty, 



248,931 20 
$22,982,837 12 



Total, 

Cash capital, .... 

Surplus over all liabilities, 
Surplus to policy holders, 

Total liabilities, including surplus, 



$5,000,000 00 
8,022,164 72 



$737,985 79 

8,484,888 07 

104,750 75 

1,000 00 

150,000 00 

482,047 79 

$9,960,672 40 



13,022,164 72 

.$22,982,837 12 



* The company holds also instalment premium notes to the amount of 8188,876.39, which do not enter 
into or form any part of the assets of the company, as no portion of them is earned. Whatever value is 
attached to them would necessarily be counterbalanced by the addition of an amount exactly equal to 
the reinsurance liability, the entire sum consisting of "unearned premiums." 

t These assets include deposits in this country amounting to 8111,390, which the company has made 
for the protection of certain policy holders. Liabilities of 8442,570.98 have accrued against these deposits, 
which are included in the total liabilities of the company. 



110 



.ETNA INSURANCE CO. 



Fire risks in force Dec. 31, 1911, 
Fire risks written during the year, 

Total, . 
Expired and terminated, 

In force at end of year, 
Deduct amount reinsured, 



Risks and Premiums. 

Risks. Premiums. 

$1,373,639,606 00 515,818,465 91 



919,866,362 00 10,897,136 61 



$2,293,505,968 00 $26,715,602 52 
. 828,906,166 00 9,979,857 95 



$1,464,599,802 00 S16,735,744 57 
. 149,748,526 00 1,699,200 34 



Net amount in force, . . . $1,314,851,276 00 S15,036,544 23 
Perpetual risks in force (not included above), $5,044,394 00 SI 16,389 72 



Marine risks in force Dec. 31, 1911, 
Marine risks written during the year, 

Total, 

Expired and terminated, 

In force at end of year, 
Deduct amount reinsured, 



$48,763,133 00 
358,794,410 00 

$407,557,543 00 
348,618,058 00 

$58,939,485 00 
14,317,250 00 



Sl,241,066 51 
2,637,083 46 

$3,878,149 97 
2,425,999 06 

$1,452,150 91 
380,881 16 



Net amount in force, 



$44,622,235 00 $1,071,269 75 



Miscellaneous. 



Net premiums received from organization of company, 
Net losses paid from organization of company, . 
Cash dividends declared from organization of company, 
Stock dividends declared from organization of company, 
Fire losses incurred during the year, 
Marine and inland losses incurred during the year, . 
Dividends declared during the year (16 per cent), 
Par value of company's stock owned by directors, 



S256,799,716 65 
132,981,553 48 
34,401,365 00 
2,805,000 00 
4,274,418 26 
800,826 94 
800,000 00 
260,500 00 



Schedule A. Stocks and Bonds owned by the Company. 



500 
300 
300 

1,500 
600 
500 
600 

1,000 

1,000 
300 
300 
300 
500 
500 
400 
181 
100 
450 

1,000 

1,800 
350 

4,813 
900 

4,000 



Railroad Stocks. 
shares Albany & Susquehanna, . 

" Allegheny & Western, 

" Baltimore & Ohio, preferred, . 

Chic, Mil. & St. Paul, preferred, 

" Chic, Mil. & St. Paul, com., . 

11 Chicago & Northwestern, pref., 

" Chicago & Northwestern, com., 

" Cleve., Cin., Chic. & St. L., pref., 

" Cleveland & Pittsburgh, . 

" Connecticut River, 

" Dayton & Michigan, preferred, 

" Delaware & Bound Brook, 

" Fort Wayne & Jackson, preferred, 

" Georgia R.R. & Banking Co., . 

" Illinois Central, 

" Illinois Southern, 

" Joliet & Chicago, 

" Kalamazoo, Allegan & G. Rapids, 

" Morris & Essex, 

" New York Cent. & Hudson River, 

" New York, Lackawanna & Western, 

" N. Y., N. H. & Hartford, 

" Oswego & Syracuse, 

" Pennsylvania, 



Book Value. 

$46,662 50 
45,875 00 
23,606 64 

204,571 88 
60,256 08 
86.41S 75 
63,386 46 
98,912 51 
46,032 75 
28,016 66 
23.636 00 
54,000 00 
50,175 00 

120,710 00 
50,078 76 
22,500 00 
9,462 75 
55,750 00 
43,968 75 

188,920 42 
45,833 33 

551,702 26 
95,364 25 

226,328 40 



Rate. 
290 
140 

87 
140 
113 
188 
138 

95 
168 
250 
188 
194 
130 
263 
127 

166 
135 
175 
109 
122 
12S 
215 
122 



Market Value. 

$145,000 00 

42,000 00 

26,100 00 

210,000 00 
67,800 00 
94,000 00 
m30 00 
95,000 00 
84,000 00 
75,000 00 
28,200 00 
58.200 00 
65,000 00 

131,500 00 
50,800 00 

16,600 00 

60,750 00 

00 00 

196.200 00 

42.700 00 

616,064 00 

96,750 00 

..000 00 



.ETNA INSURANCE CO. 



Ill 



300 shares Peoria & Bureau Valley, 

1,000 Pittsburgh, Ft. Wayne & Chicago, 

1,000 " Rensselaer & Saratoga, . 

140 St. Joseph, So. Bend & So., pref., 

500 " St. Joseph, So. Bend & So., com., 

300 " Utica, Chenango & Susque. Valley, 

400 " Valley, New York, . 

Bank Stocks. 

200 shares iEtna National, Hartford, 

400 " Am. Exchange Nat., New York, 

200 " Am. National, Hartford (in liq.), 

400 " Bank of the Manhattan, N. Y., 

300 " Bk. of N. Y. Nat. Bkg. Asso., . 

300 " Central Trust Co., New York, 

400 " Charter Oak National, Hartford, 

200 " City Bank, Hartford, 

150 " Conn. River Bank. Co., Hartford, 

250 " Farmers' & M. Nat., Phila., . 

300 " First National, Hartford, 

75 " First National, New York, 

300 " Hanover National, New York, 

1,000 " Hartford National, Hartford, . 

200 " Holland Trust Co., N. Y. (in liq.), 

300 " Importers & Traders Nat., N. Y., 

100 " International Bank. Corp., N. Y., 

112 " Market & Fulton Nat., N. Y., 

345 " Mechanics & M. Nat., New York, 

120 " Merchants Exch. Nat., N. Y., 

700 " Merchants National, New York, 

100 " Metropolitan Tr. Co., New York, 

625 " National Bk. of Com., N. Y., . 

500 " National City, New York, 

550 " National Exchange, Hartford, . 

100 " New Britain National, . 

150 " New York Life Ins. & Trust Co., 

200 " Peoples, New York, 

1,000 " Phoenix National, Hartford, . 

550 " State, Hartford, 

100 " Third National, N. Y. (in liq.), 

100 " Union Trust Co., New York, . 

100 " United States Trust Co., N. Y., 

Miscellaneous Slocks. 

400 shares American Tel. & Cable Co., 

Atlantic Mutual Ins. Co., scrip, 1907-1908, 

9 shares General Adjustment Bureau, N. Y., 

300 " Gold & Stock Telegraph Co., . 

300 " Internat. Ocean Telegraph Co., 

1,000 " Northwest Telegraph Co., 

5 Pacific Coast Adjustment Bureau, 

10 Southern Adj. Bureau, Atlanta, 

10 Underwriters' Salvage Co., Chic, 

10 " Underwriters' Salvage Co., N. Y., 

Government Bonds. 
United States 4s, 1925, 

State, County and Municipal Bonds. 
Albany, N. Y., 41s, 1918-21, 
Albina, Oregon, 6s, 1921, . 
Americus, Ga., 6s, 1919, . 
Americus. Ga., 6s, 1920, . 
Arizona 5s, 1942, 
Bainbridge, Ga., 6s, 1913, 
Bainbridge, Ga., 6s, 1914, 
Bainbridge, Ga., 6s, 1915, 
Bainbridge, Ga., 6?, 1916, 
Bainbridge, Ga., 6s, 1917, 
Bainbridge, Ga., 6s, 1918-19, 
Bainbridge, Ga., 6s, 1920, 
Bainbridge, Ga., 6s, 1921-22, 
Bainbridge, Ga., 6s, 1923, 
Bainbridge, Ga., 6s, 1924-25, 
Bainbridge, Ga., 6s, 1926, 



Book Value. 


Rate. 


Market Value. 


$55,755 93 


180 


$54,000 00 


112,201 75 


165 


165,000 00 


173,575 00 


190 


190,000 00 


13,940 00 


100 


14,000 00 


50,000 00 


40 


20,000 00 


47,390 00 


145 


43,500 00 


44,550 00 


122 


48,800 00 


21,408 50 


323 


64,600 00 


43,983 00 


235 


94,000 00 


— 


10 


1,000 00 


26,708 00 


366 


73,200 00 


36,766 55 


407 


122,100 00 


31,000 00 


1,049 


314,700 00 


51,832 25 


165 


66,000 00 


27,087 00 


130 


26,000 00 


9,300 00 


290 


13,050 00 


28,488 00 


140 


35,000 00 


34,906 50 


176 


52,800 00 


20,571 00 


1,020 


76,500 00 


50,037 00 


709 


212,700 00 


140,359 00 


192 


192,000 00 


22,200 00 


5 


1,000 00 


30,000 00 


572 


171,600 00 


20,000 00 


110 


11,000 00 


14,143 00 


258 


28,896 00 


38,636 00 


263 


90,735 00 


8,792 50 


162 


9,720 00 


39,918 52 


204 


71,400 00 


11,000 00 


445 


44,500 00 


84,379 77 


200 


125,000 00 


66,889 00 


420 


210,000 00 


34,306 25 


164 


45,100 00 


10,000 00 


175 


17,500 00 


18,525 00 


1,070 


160,500 00 


5,544 00 


250 


12,500 00 


146,711 50 


158 


158,000 00 


63,779 00 


206 


113,300 00 


10,850 00 


— 


- 


10,000 00 


1,305 


130,500 00 


28,510 00 


1,140 


114,000 00 


36,750 00 


66 


26,400 00 


4,510 00 


106 


4,780 60 


450 00 


100 


450 00 


36,000 00 


118 


35,400 00 


33,000 00 


101 


30,300 00 


50,992 93 


118 


59,000 00 


500 00 


100 


500 00 


500 00 


100 


500 00 


750 00 


100 


1,000 00 


1,000 00 


150 


1,500 00 


113,718 85 


114 


114,000 00 


50,466 90 


101 


50,500 00 


27,750 00 


106 


26,500 00 


\ 21,045 00 < 


f 108 
t 109 


10,800 00 
8,720 00 


15,450 00 


100 


15,000 00 




r ioo 


500 00 




101 


505 00 




102 


510 00 




103 


515 00 




104 


520 00 


7,000 00- 


105 


1,050 00 




106 


530 00 




107 


1,070 00 




108 


540 00 




109 


1,090 00 




. no 


550 00 



112 



.ETNA INSURANCE CO. 



Boston, Mass., 4s, 1923, . 

Bridgeport, Conn., 4Js, 1949-55, 

Bridgeport, Conn., 4js, 1956-61, 

Chicago, 111., 5s, 1913, 

Chicago, 111., 5s, 1914, 

Chicago, 111., 4s, 1928, 

Cleveland, O., is, 1922-25, 

Columbia, S. C, 5s, 1941, 

Connecticut 3§s, 1934, 

Dallas, Tex., 5s, 1920, 

Durham, N. C, 4£s, 1935, 

Georgia 4£s, 1915, 

Greensboro, N. C, 6s, 1922, 

Greenville, Ala., 6s, 1922, . 

Hamilton, Ont., 4s, 1920, . 

Hamilton, Ont., 4s, 1932, . 

Hartford, Conn., arsenal sch. dist. 4s, 1942, 

Hartford, Conn., 3|s, 1954, 

Hartford, Conn., northwest sch. dist. 4s, 1938 

Jersey City, N. J., 5s, 1923, 

Jersey City, N. J., ref. 4|s, 1928, 

Jersey City, N. J., 4£s, 1961, 

Lexington, Ky., 5s, 1918, . 

Manitoba 4s, 1947-48, 

Mecklenburg, Co. N. C, 6s, 1920, 

Milford, Conn., 4s, 1927, . 

Milwaukee, Wis., 4|s, 1917, 

Milwaukee, Wis., 4|s, 1920, 

Milwaukee, Wis., 4§s, 1923-26, . 

Milwaukee, Wis., 4§s, 1928-32, . 

Montreal, Can., 4s, 1942, . 

Montreal, Can., 4s, 1926, . 

Montreal, Can., 4s, 1917, . 

Nashville, Tenn., high school 4£s, 1940, 

New Britain, Conn., municipal bldg. 4s, 1948 

New Mexico 5s, 1925 op. 1915, 

New York, N. Y., 4£s, 1957, 

New York, N. Y., 4£s, 1960, 

Norwalk, Conn., 4£s, 1942, 

Portland, Ore., park 4s, 1933, 

Port of Portland, Ore., 5s, 1922, 

Rahway, N. J., 4s, 1922, 

Richmond, Va., 4s, 1943, 

Richmond, Va., 4s, 1929, 

Richmond, Va., 4s, 1938, 

Roanoke, Va., 4s, 1936, 

Spartanburg, S. C., school district 4jS, 1932 

Spokane, Wash., 4£s, 1931-34, . 

Spokane County, Wash., 4£s, 1923, . 

Stamford, Conn., 4s, 1938-42, . 

Syracuse, N. Y., 4£s, 1913-14, . 

Syracuse, N. Y., 4|s, 1915-19, . 

Syracuse, N. Y., 4£s, 1920-25, . 

Syracuse, N. Y., 4^s, 1926-29, . 

Tacoma, Wash., 4£s, 1929, 

Tacoma, W T ash., 5s, 1913, . 

Talbot County, Ga., 6s, 1912, . 

Tennessee 3s, 1913 

Toronto, Ont., deb. 4s, 1920, 
Westmount, Que., 3§s, 1938, 
Winnipeg, Man., 4s, 1914, 
Winston, N. C, 5s, 1924, . 

Railroad Bonds. 
Alabama Central 1st 6s, 1918, . 
Baltimore & Ohio 1st 4s, 1948, . 
Baltimore & Ohio prior lien 3|s, 1925, 
Boston & Maine deb. 4|s, 1929, 
Boston & New York Air Line 1st 4s, 1955, 
Buffalo, New York & Erie 1st 7s, 1916, 
Burl., Ced. Rap. & N. (I., M. & D. Div.) 5s, 1934 
Canada Southern series A 5s, 1962, 
Canadian Northern (Winnipeg Term.) 4s, 1939, 
Central Branch 1st 4s, 1919, 



Book Value. 
$25,000 00 

26,022 86 

26,674 37 

24,937 50 
51,312 50 
86,200 00 
100,000 00 
35,902 68 
26,718 75 
11,400 00 
24,480 00 
20,000 00 
48,185 00 
24,327 50 
49,750 00 
47,000 00 
30,000 00 
26,304 79 
26,250 00 
58,435 50 
52,846 
14,875 
75,815 
20,647 



83 
00 
00 
20 



25,839 01 

54,250 00 

8,254 43 

4,080 00 

37,370 00 

100,250 00 

10,550 00 

56,187 50 

50,375 00 

25,637 50 

50,000 00 

54,152 78 

44,796 

25,125 



80 
00 



25,650 

30,000 
25,812 
47,405 
51,250 



00 

00 
50 
00 
00 



75,125 00 

54,412 66 

31,200 00 

30,550 00 

4,000 00 

29,004 20 

10,000 00 

50,375 00 

33,143 90 

25,000 00 

58,000 00 

123.250 00 

23,187 50 

156,425 00 

101,000 00 

153,84s 75 

165,785 00 

53,000 00 

49,625 00 

31,450 00 



t 



Rate. 

100 

102 

103 

100 

101 

99 

102 

108 

98 

103 

102 

101 

110 

106 

97 

94 

100 

90 

100 

107 

103 

106 

103 

98 

107 

99 

101 

102 

103 

104 

97 

98 

99 

102 

98 

101 

105 

100 

102 

95 

105 

93 

97 

98 

97 

94 

102 

100 

100 

98 

100 

101 

102 

103 

101 

100 

100 

99 

98 

88 

100 

104 

106 

97 

92 

99 

97 

107 

109 

106 

96 

92 



Market Value. 

$25,000 00 

13,260 00 

12,300 00 

12,000 00 

13,130 00 

24,750 00 

51,00 

86,400 

98,000 

37,080 

25,500 

10.100 00 

26,400 00 

21,200 

44,620 

23,500 

50,000 

45,000 

30,000 

26,750 

25.750 

58,300 

51,500 

14,700 

20,790 

3.535 

1,530 
10,815 

9,880 

5,880 00 

3,960 00 
37,740 00 
98,000 00 
10,100 00 

jOO 
50,000 
25,500 
47,500 
52,500 
20,460 
24,250 
11,760 
12,610 
28,200 
25,500 00 
46,000 00 
50,000 00 
73.500 00 

4,000 00 
10,100 00 
12.240 00 
~^0 00 
30,300 
30,000 

4.000 
22.770 

9.800 
44,000 
31,793 
26,000 



00 
00 
00 
00 



00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 



00 
00 
00 
00 
00 
00 
00 
00 
00 
00 



00 
00 
00 
00 
00 
00 
00 
00 



53,000 00 



121.250 

23,000 
14S.500 

97,000 
133.750 
163,500 

53,000 

4S.000 00 

34.040 00 



00 
00 
00 
00 
00 
00 
00 



.ETNA INSURANCE CO. 



113 



Central Ohio 1st consol. 4£s, 1930, 

Central Pacific 3|s, 1929 

Central Pacific 1st 4s, 1949, 

Central of New Jersey general 5s, 1987, 

Chesapeake & Ohio (R. & Alle. Div.) 1st 4s, 1989 

Chic, Burl. & Quincy (111. Div.) 3|s, 1949, 

Chic, Burl. & Quincy (Neb. Ex.) 4s, 1927, . 

Chicago & Eastern 111. consol. 1st 5s, 1937, 

Chicago & Eastern Illinois 1st consol. 6s, 1934, 

Chicago & Erie 1st 5s, 1982, 

Chicago, Hammond & Western 1st 6s, 1927 

Chicago, Indiana & Southern 4s, 1956, 

Chic, Mil. & St. P. (Dubuque Div.) 1st 6s, 1920 

Chic, Mil. & St. P. general 4s, 1989, . 

Chic, Mil. & St. P. convertible 4|s, 1932, 

Chicago & Northwestern general 4s, 1987, 

Chicago & Northwestern 6s, 1929, 

Chicago & Northwestern consol. 7s, 1915, 

Chicago & Northwestern general 3 Is, 1987, 

Chicago & Northwestern deb. 5s, 1933, 

Chicago & Northwestern 5s, 1929, 

Chicago Railways consol. class A 5s, 1927, 

Chicago Railways consol. class B 5s, 1927, 

Chicago Railways adjustment 4s, 1927, 

Chicago Railways purchase money 4s, 1927, 

Chicago, Rock Island & Pacific 6s, 1917, 

Chicago, Rock Island & Pacific gen. 4s, 1988, 

Chicago, St. Louis & New Orleans 5s, 1951, 

Chicago & Western Indiana consol. 4s, 1952, 

Chicago & Western Indiana general 6s, 1932, 

Cincinnati, Dayton & Ironton 5s, 1941, 

Cincinnati, Findlay & Fort Wayne 1st 4s, 1923, 

Cin., Hamilton & Dayton general 5s, 1942, 

Cin., Indianap., & West. 1st ref. 4s, 1953, . 

Cleveland, Cin., Chic. & St. L. gen. 4s, 1993, 

Cleveland, Col. Cin. & Ind. 1st cons. 7s, 1914, 

Cleveland, Lorain & Wheel. 1st cons. 5s, 1933, 

Colorado & Southern 1st 4s, 1929, 

Columbus & Toledo 1st 4s, 1955, 

Dayton & Michigan 1st 4£s, 1931, 

Delaware & Hudson Canal (Penn Div.) 7s, 1917, 

Delaware & Hudson Co. 1st 4s, 1943, 

Des Moines & Fort Dodge 1st 4s, 1935, 

Detroit 1st 5s, 1915, .... 

Detroit 1st 5s, 1921, .... 

Detroit 1st 5s, 1924, .... 

Elgin, Joliet & Eastern 1st 5s, 1941, . 

Flint & Pere Marquette 1st consol. 5s, 1939, 

Flint & Pere Mar. (Pt. Hur. Div.) 1st 5s, 1939, 

Gal. Har. & San Ant. (M. & P. Ex.) 1st 5s, 1931 

Georgia & Alabama 1st consol. 5s, 1945, 

Georgia R.R. & Banking Co. 4s, 1947, 

Hartford Street 1st 4s, 1930, 

Hocking Valley 1st consol. 4|s, 1999, . 

Housatonic 1st consol. 5s, 1937, 

Illinois Central (Spring. Div.) 1st 3|s, 1951, 

Iowa Central 1st ref. 4s, 1951, . 

Iowa Central 1st 5s, 1938, 

Keokuk & Des Moines 1st 5s, 1923, . 

Lake Shore & Michigan Southern deb. 4s, 1931, 

Lehigh Valley 1st 4§s, 1940, 

Lehigh Valley Terminal 1st 5s, 1941, . 

Louisville & Jeffersonville Bridge Co. 4s, 1945, 

Louis. & Nash. (Pad. & Memp. Div.) 1st 4s, 1946 

Mahoning Coal 5s, 1934, . 

Mich. Cent (Gr. River Val.) 1st 4s, 1959, 

Middlesex Valley 1st 5s, 1942, . 

Midland of New Jersey 1st 5s, 1940, . 

Minn. & St. Louis (Merriam June) 1st 7s, 1927, 

Minn. & St. Louis (Pacific Ex.) 6s, 1921, 

Minneapolis Union 6s, 1922, 

Montana Central 1st 6s, 1937, . 

Morris & Essex 1st 7s, 1914, 



Book Value. 

$27,593 75 

840 00 

48,875 00 

315,578 75 
88,783 05 

131,808 75 
96,562 50 
67,218 75 
61,095 00 

298,318 75 

157,850 00 
49,425 00 
93,276 67 
75,081 25 
31,500 00 
73,818 75 
20,105 25 

101,008 75 
99,460 00 

111,815 00 
1,125 00 
30,000 00 
45,000 00 
15,741 67 
57,875 00 
75,850 00 

103,500 00 
84,240 00 

101,000 00 

116,939 50 
53,087 50 
49,200 00 

117,231 67 
49,500 00 

199,250 00 

126,551 50 

116.086 25 
24,531 25 

142,159 39 
26,100 00 

115,529 83 
99,937 50 
24,437 50 

32,539 90 

94,192 50 

26,030 00 

59,262 50 

81,250 00 

56,125 00 

23,375 00 

51,500 00 

78,716 25 

49,757 50 

101,000 00 

45,750 00 

56,125 00 

45,942 50 

186,075 00 

215,610 00 

231,555 00 

49,250 00 

47,762 50 

33,084 74 

48,750 00 

28,750 00 

55,519 38 

110,550 00 

31,875 00 

213,862 08 

133.087 50 
73,790 63 



Rate. 

101 

90 

95 

119 

93 

86 

97 

107 

122 

110 

117 

92 

111 

99 

105 

98 

110 

105 

84 

108 

106 

94 

85 

48 

73 

107 

93 

113 

89 

108 

101 

86 

102 

87 

92 

104 

107 

94 

93 

101 

112 

99 

80 

97 

90 

88 

108 

96 

97 

105 

105 

92 

100 

101 

114 

85 

60 

98 

99 

92 

104 

112 

88 

94 

112 

96 

106 

110 

123 

108 

114 

124 

103 



00 
00 
00 
00 
00 
00 



Market Value. 

$25,250 00 

900 00 

47,500 

297,500 
93,000 

129,000 
97,000 
64,200 
61,000 00 

275,000 00 

152,100 00 
49,680 00 
91,020 00 
74,250 00 
33,075 00 
73,500 00 
19,800 00 
84,000 00 
84,000 00 

108,000 00 
1,060 00 
28,200 00 
38,250 00 
7,536 00 
41,975 00 
64,200 00 
93,000 00 
82,490 00 
89,000 00 

106,920 00 
50,500 00 
43,000 00 

110,160 00 
43,500 00 

184,000 00 

104,000 00 

107,000 00 
23,500 00 

118,110 00 
25,250 00 

108,640 00 
99,000 00 
20,000 00 
6,790 00 
900 00 
19,360 00 
89,640 00 
24,000 00 
53,350 00 
78,750 00 
52,500 00 
23,000 00 
50,000 00 
75,750 00 
49,020 00 
85,000 00 
30,000 00 
49,000 00 
49,500 00 

184,000 00 

208,000 00 

224,000 00 
44,000 00 
47,000 00 
38,080 00 
48,000 00 
26,500 00 
55,000 00 
94,710 00 
27,000 00 

208,620 00 

124,000 00 
62,830 00 



114 



AGRICULTURAL INSURANCE CO. 



N. Y 

N. Y 
N. Y 
N. Y, 



Book Value. 

Morris & Essex 1st consol. 7s, 1915, . . . $176,169 72 

Mutual Terminal Co. of Buffalo 1st 4s, 1924, . 47,750 00 

New England consol. 4s, 1945 123,797 50 

New England consol. 4s, 1945, .... 50,237 50 

New Haven & Northampton cons. ref. 4s, 1956, . 50,312 50 

New London Northern 1st 4s, 1940, . . . 49,625 00 

N. Y., Lacka. & West. term, and imp. 4s, 1923, . 100,581 25 

Lake Erie & Western 1st cons. 7s, 1920, . 123,666 25 

N. H. & Hartford conv. deb. 6s, 1948, . 293,995 00 

N. H. & Hartford deb. 4s, 1956, . 237,375 00 

N. H. & H. (H. R. & Pt. C. Div.) 1st 4s, 1954, 252,756 25 

New York, Susquehanna & West. 1st 5s, 1943, . 54,902 50 

New York, Susquehanna & West. 1st ref. 5s, 1937, 68,990 00 

Norfolk & Western 6s, 1931, . . . 120,879 33 

Norfolk & Western (New Riv. Div.) 1st 6s, 1932, 36,750 00 

Nor. Pac.-Gt. Nor. (C, B. & Q. col.) 4s, 1921, . 203,931 87 

Northwestern Union 1st 7s, 1917, . . . 121,297 97 

Oregon Short Line 1st 6s, 1922, . . . 189,995 00 

Oregon Short Line 1st con. 5s, 1946, . . . 39,650 00 

Oswego R.R. Bridge Co. 1st 6s, 1915, . . 52,679 17 

Oswego & Syracuse 5s, 1923 24,882 50 

Port Reading 1st 5s, 1941, .... 99,250 00 

Rome, Water. & Ogdensburg 1st cons. 5s, 1922, . 108,675 00 

St. Paul, Minn. & Manitoba consol. 6s, 1933, . 129,123 75 

St. Paul, Minn. & Manitoba consol. 4s, 1933, . 39,807 50 

St. Paul, Minn. & Manitoba consol. 4£s, 1933, . 30,652 50 

St. Paul, Minn. & Man. (Mon. Ex.) 1st 4s, 1937, . 49,115 00 

St. Paul & Northern Pacific 1st 6s, 1923, . . 221,326 67 

St. Paul & Sioux City 1st 6s, 1919, . . . 142,500 00 

San Francisco & San Joaquin Valley 5s, 1940, . 28,343 75 

Sault Ste. Marie & Southwestern con. 5s, 1915, . 20,525 00 

Southern 1st consol. 5s, 1994 52,005 00 

Southern (St. Louis Div.) 1st 4s, 1951, . . 49,875 00 

Terre Haute & Peoria 1st 5s, 1942, . . . 25,805 54 

Toledo & Ohio Central 1st 5s. 1935, . . . 57,272 50 

Toledo & Ohio Cent. (West. Div.) 1st 5s, 1935, . 53,695 45 

Toronto, Ham. & Buffalo 1st 4s, 1946, . . 98,087 50 

Union Pacific 1st mort. R.R. & land grant 4s, 1947, 25,531 25 

United New Jersey R.R. & Canal Co. 4s, 1929, . 108,345 00 

Vermont Valley 1st 4Js, 1940 104,875 00 

Wabash 1st 5s, 1939, 112.097 50 

Washington Terminal Co. 1st 3§s, 1945, . . 31,637 50 

West Shore 1st 4s, 2361 94,125 00 

Willmar & Sioux Falls 1st 5s, 1938, . . . 118,831 25 

Miscellaneous Bonds. 

Mas. Tem le Corp., Wilmington, N. C, 6s, 1919, 30,500 00 

M rtgage Bond Co. of New York 4s, 1966, . -.437 50 

New York Dock Co. 1st 4s, 1951, . . . 55,000 00 

Peoples Gas Lt. & Coke Co., Chicago, 5s, 1947, . 52,312 50 

Toronto Mortgage Co. 4s, 1916, . . . 50,000 00 

317,662,503 34 



Rate. 

105 

97 

114 

98 

97 

98 

97 

116 

125 

90 

97 

108 

101 

122 

122 

96 

112 

111 

109 

104 

106 

110 

106 

122 

98 

105 

96 

113 

109 

111 

101 

106 

88 

106 

107 

107 

89 

99 

100 

104 

106 

86 

98 

111 

105 

83 

101 
100 



00 
00 
00 
00 
00 
00 
00 
00 
00 



00 
00 
00 
00 
00 
00 
00 



Market Value. 
116,280 

49,000 

97,000 

116,000 

312,500 

225,000 

242,500 

54,000 00 

60,600 00 

122,000 

36,600 

240.000 

112,000 

177,600 

38,150 

52,000 

24,3 - 

100,100 00 

106,000 00 

122,000 00 

39,200 00 

30,450 00 

48,000 00 

203,400 

136,250 

_'00 

53,000 00 

44,000 00 

26.500 00 

)0 00 

53,500 00 

89,000 00 

24.750 00 

106,000 00 

104,000 00 

106,000 00 

30,100 00 

98,000 00 

116,550 00 

31,500 00 
21,750 00 
45 650 00 
50,500 00 
50,000 00 

S19,09S,194 60 



00 
00 
00 
00 



AGRICULTURAL INSURANCE COMPANY, WATERTOWN. N. Y. 

Incorporated 1S53.* Commenced business Feb. 17, 1S53. 

P.uD-rp Capital, §500,000. 
W. H. STEVENS, President. J. Q. ADAMS, Secretary. 

Home Office, 203 Washington Street. 

Income. 

Net fire premiums, SI, 697,349 43 

Gross interest on mortgages, $35,717.21; collaterals, $16,483.46; 
stocks and bonds, $111,023.03; bank deposits, $9,747.44; all 
other, $125.63; gross rents, for company's own occupancy, 

$2,500, 175.596 77 

Agents' balances previously charged off, ..... '00 



* Organized as a mutual company 1S53; incorporated as a stock company Jan. 10, 



AGRICULTURAL INSURANCE CO. 



115 



Gross profit on sale of ledger assets, 
Gross increase in book value of bonds, 

Total income, 
Ledger assets, Dec. 31, 1911, . 



56,932 80 
3,583 06 



Total, 



Disbursements. 



Net amount paid policy holders for fire losses, . 
Expenses of adjustment and settlement of losses, 
Commissions or brokerage, . 
Agency expenses, ....... 

Salaries and expenses of special and general agents, . 

Salaries, fees, etc., of officers and employees, 

Rents, including $2,500 for company's own occupancy, 

Advertising, printing and stationery, 

Postage, telegrams, telephone and express, 

Legal expenses, ....... 

Furniture and fixtures, ...... 

Maps, including corrections, ..... 

Underwriters' boards and tariff associations, 

Fire department, patrol and salvage corps fees and taxes, 

Inspections and surveys, ..... 

Repairs and expenses on real estate, 

Taxes on real estate, ...... 

State taxes on premiums, ..... 

Insurance department licenses and fees, . 

Other licenses, fees and taxes, .... 

Dividends to stockholders, ..... 

Agents' balances charged off, ..... 

Gross loss on sale of stocks and bonds, 
Gross decrease in book value of bonds, 
Interest on reinsurance reserve, .... 

Decrease in reserve on account of reinsurance treaties, 
All other disbursements, ..... 

Total disbursements, ..... 

Balance, ....... 

Ledger Assets. 
Book value of real estate, .... 

Mortgage loans on real estate, 
Loans secured by collateral (Schedule A), 
Book value of stocks and bonds (Schedule B), . 
Cash in office, ...... 

Deposits in trust companies and banks on interest, 
Agents' balances, ...... 



$1,883,662 06 
3,996,144 31 

$5,879,806 37 



$829,702 72 

30,668 49 

366,202 83 

3,511 48 

117,045 80 

57,455 47 

3,540 32 

20,617 85 

12.208 78 
342 78 

2,876 29 
4,747 02 

32,381 10 

13,207 66 

8,012 14 

1,149 27 

617 12 

35,327 83 
9,990 81 
9,864 16 

75,000 00 
1,207 20 

17.209 03 
694 80 
785 89 

32,192 60 
3,815 07 

$1,690,374 51 

$4,189,431 86 

$35,927 93 
745,482 00 
132,600 00 
2,682,492 18 
4,183 89 
279,354 08 
309,391 78 

. $4,189,431 86 



Total ledger assets, ...... 

Non-Ledger Assets. 

Interest due and accrued on : — 
Mortgages, $11,438.63; bonds, $27,913.98; collateral loans, 

$3,880.44; other assets, $457.40, 43,690 45 

Due from other companies, 3,789 54 



Gross assets, . 



. $4,236,911 85 



116 



AGRICULTURAL INSURANCE CO. 



Assets not admitted. 
Agents' balances over three months due, 
Book value of real estate over market value, 
Book value of stocks and bonds over market value, 



$6,667 27 

5,314 74 

15,627 18 



Admitted assets, 5 



7,609 19 

S4,209,302 66 



Liabilities. 



Unpaid losses, including $19,094.25 resisted, $179,760; Leas 

reinsurance, $53,124.39, .... 
Unearned premiums on outstanding risks, 
Salaries, expenses and accounts, due or accrued, 
Federal, state and other taxes, due or accrued, 
Reserve on account of reinsurance treaty, 
Reserve for contingencies, .... 



56,635 61 

;.:;.> 61 

6,334 01 

35,000 00 

8,834 47 

200,000 00 

. §2,230,162 74 



Total, 

Cash capital, $500,000 00 

Surplus over all liabilities, .... 1,479,139 92 
Surplus to policy holders, .... 

Total liabilities, including surplus, ..... 

Risks and Premiums. 

Risks. Premiums. 

Fire risks in force Dec. 31, 1911, . . . $416,693,300 00 $4,109,762 00 



1,979,139 92 
$4,209,302 66 



Fire risks written during the year, 

Total, .... 
Expired and terminated, 

In force at end of year, . 
Deduct amount reinsured, 



255,455,800 00 2,633,554 65 



$672,149,100 00 $6,743,316 65 
236,731,500 00 2,487,160 65 



$435,417,600 00 $4,256,156 00 
67,104,700 00 721.889 00 



Net amount in force, 



$368,312,900 00 $3,534,267 00 



Miscellaneous. 



Net premiums received from organization of company, 

Net losses paid from organization of company, 

Cash dividends declared from organization of company, 

Stock dividends declared from organization of company, 

Fire losses incurred during the year, 

Dividends declared during the year (15 per cent.), 

Par value of company's stock owned by directors, 



S42.0s2.437 00 

21,165,691 00 

2,017,500 00 

400,000 00 

828,255 00 

75.000 00 

88,200 00 



Schedule A. Securities held as Collateral. 



100 shares Brockway Co., YVatertown, X. Y., . 
5 " Brockway Co., "Watertown, N. Y., . 
Remington-Martin Co., Norfolk, X. Y., 6s, 1921, 
Champion Paper Co., Carthage, X. Y., 6s, 1924, 

10 shares Arthur Grain & Coal Co., Lowville, X. Y., 
Real estate mortgage, ..... 

236 shares St. Regis Paper Co., pref., Deferiet, X. Y. 



Company's 

Market Value. 

S 10,000 00 

500 00 

500 00 

500 00 

1,000 00 

15,000 00 

23.600 00 



Loaned 

Thereon. 

^S.OOO 00 



.. 750 oo 

20.000 00 



* These assets include deposits in this country amounting to $57,360, which the company has made 
for the protection of certain policy holders. Liabilities of $73,931.06 have accrued against these deposits 
which are included in the total liabilities of the company. 



AGRICULTURAL INSURANCE CO. 



117 



St. Law. Int. El. R.R. & Land Co., Alex. Bay, N. Y., 5s, 1932, 
100 shares Carthage Tissue Paper Mill, Cart age, N. Y 
150 " West End Paper Co., Carthage, N. Y., 
15 " Watertown Nat. Bank, Watertown, N. Y. 
49 " International Paper Co., preferred, . 
250 " Hunting Co., Watertown, N. Y., preferred 
Deed of real estate, Elmira, N. Y., 

5 shares Watertown National Bank, Watertown, N. Y., 
Ontario Talc Co., Gouverneur, N. Y., 6s, 1911-21, 

4 shares Watertown National Bank, Watertown N 
200 " Brownville Paper Co., Brown ville, N. Y., 
Real estate mortgage, ..... 

10 shares Watertown National Bank, Watertown, N 
Oregon Short Line R.R. Co. 4s, 1929, . 

340 shares International Paper Co., pref., 



Company's 
Market Value 
$29,500 00 
10,000 00 
15,000 

3,450 

2,352 
25,000 

3,000 

1,150 

3,600 
920 
40,000 00 

5,000 00 

2,300 00 

1,820 00 
16,320 00 



00 
00 
00 
00 
00 
00 
00 
00 



Loaned 
Thereon. 
$20,000 00 
3,000 00 
8,500 00 

4,000 00 

20,000 00 

1,500 

350 

3,000 

500 

10,000 00 
4,000 00 
1,000 00 
1,000 00 

15,000 00 



00 
00 
00 
00 



$210,512 00 $132,600 00 



Schedule B. Stocks and Bonds owned by the Company. 



100 
100 
450 
100 
250 
200 
250 
300 
250 
100 
100 

14 
500 
200 
350 

50 
220 

26 
100 
476 
100 
333 
100 
132 
1,100 
150 
200 

28 
200 

40 

20 

26 

75 

200 

150 

200 

200 

129 

9 

250 

263 

300 

3 

5 

5 

5 

10 

1 



Railroad Stocks. 
shares Atlantic Coast Line, 
rights Atlantic Coast Line, 
shares Atch., Top. & Santa Fe, . 

" Baltimore & Ohio, . 

" Cayuga & Susquehanna, 

" Chicago, Milwaukee & St. Paul, 
Chic, Mil. & St. Paul, preferred, 

" Chicago & Northwestern, 

" Great Northern, preferred, 
rights Great Northern, 
snares Hereford, .... 

" Illinois Central leased line, 

" Illinois Central, 

" Lehigh Valley, 

" Louisville & Nashville, 

" Louisville & Nashville, 20% paid, 

" Morris & Essex, 

" Morris & Essex extension, 

" Nashville, Chattanooga & St. L., 

" Nashville & Decatur, 

" N. Y., Lackawanna & Western, 

" N. Y., N. H. & Hartford, 

" Northern Pacific, 

" Oswego & Syracuse, 

" Pennsylvania, 

" Pitts., Ft. Wayne & Chicago, . 

" Southern Pacific Co., 

" Union Pacific, 

" Union Pacific, preferred, 

" Warren, .... 

Bank Stocks. 

shares Carthage National, 

" Jefferson Co. Nat., Watertown, N. Y 
" Nat. Herkimer Co., Little Falls, N. Y 
" No. N. Y. Tr. Co., Watertown, N. Y. 
" Watertown National, N. Y., . 
Miscellaneous Stocks. 

shares American Locomotive Co., preferred, 
" American Tel. & Tel. Co., 
" H. H. Babcock Co., Water., N. Y., 
" Gen. Adjust. Bureau, New York, 
" General Electric Co., 
" Hungerford-Hol. Co., Water., N. Y 
" International Paper Co., preferred, 
" Louisville Property Co., . 
" So. Adjust. Bureau, Atlanta, Ga., 
11 Underwriters' Salvage Co., New York 
" Underwriters' Salvage Co., Chicago, 
" Water. Trans. Co., Water., N. Y., 

share West. Adj. & Inspec. Co., Chicago, 



Book Value. 
$13,750 00 

50,205 73 
10,350 00 
17,250 00 

26.539 59 
32,746 78 
44,137 50 
27,456 25 

10,150 00 
1,489 25 
70,237 50 
16,625 00 
41,093 75 
1,000 00 

21.540 00 
2,782 00 

17,012 50 
23,192 50 
13,650 00 
49,757 25 
11,912 50 
15,741 00 
70,812 50 
27,750 00 
21,550 00 

4,900 00 
17,025 33 

3,720 00 

2,285 00 

4,895 00 

12,750 00 

40,000 00 

17,045 00 

18,825 00 

27,300 00 

9,100 00 

450 00 

29,000 00 

26,300 00 

24,950 00 

35 00 

250 00 

500 00 

500 00 

500 00 

150 00 



Rate. 
134 
3 
108 
105 
210 
113 
140 
138 
130 
2 

88 

92 
127 
172 
141 

61 
175 
100 
175 
189 
122 
128 
121 
215 
122 
165 
108 
164 

92 
168 

218 
240 
250 
240 
230 

109 
141 

50 
100 
189 
105 

48 

50 
100 
150 
100 

75 
200 



Market Value. 

$13,400 00 

300 00 

48,600 00 

10,500 00 

15,750 00 

22,600 00 

35,000 00 

41,400 00 

32,500 00 

200 00 

8,800 00 

1,288 00 
63,500 
17,200 
49,350 

3,050 
19,250 

2,600 
17,500 
22,491 
12,200 
42,624 
12,100 
14,190 
67,100 
24,750 
21,600 

4,592 
18,400 00 

3,360 00 



00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 



4,360 00 

6,240 00 

18,750 00 

48,000 00 

34,500 00 

21,800 00 

28,200 00 

6,450 00 

450 00 

47,250 00 

27,615 00 

14,400 00 

150 00 

250 00 

750 00 

500 00 

375 00 

200 00 



118 



AGRICULTURAL INSURANCE CO. 



State and Municipal Bonds. 
Asheville, N. C, 4s, 1922, 
Dublin, Ga., 5s, 1937, 
New York, N. Y„ 4s, 1959, 
New York canal improvement 3s, 1958, 
Peekskill, N. Y., 4.15s, 1938, . 
Richmond, Va., 4s, 1921, . . . 

Richmond, Va., 4s, 1923-27, 
Rye, N. Y., park 3.85s, 1943, . 
St. Petersburg, Fla., 6s, 1941, . 
Sullivan Twp., Laurens Co., S. C, ref. 5|s, 1937, 
Watertown, N. Y., 4s, 1940, 
White Plains, N. Y., 4|s, 1938, . 
Railroad Bonds. 
Atch., Top. & Santa Fe (Tr. Sh. L.) 4s, 1958, 
Atch., Top. & Santa Fe convertible 4s, 1960, 
Baltimore & Ohio (So. West. Div.) 1st 3£s, 1925 
Baltimore & Ohio (P., L. E. & W. Va.) 4s, 1941, 
Brooklyn Rapid Transit Co. 5s, 1918, 
Burlington Ry. & Lt. Co., la., 1st 5s, 1932, 
Carolina, Clinchfield & Ohio 1st 5s, 1938, . 
Chicago & Eastern 111. refunding 4s, 1955, . 
Chicago, Great Western 1st 4s, 1959, . 
Chicago Rys. consolidated 5s, 1927, . 
Chicago, Milwaukee & St. Paul conv. 4js, 1932, 
Chicago, Milwaukee & St. Paul deb. 4s, 1934, 
Chicago, Rock Island & Pac. 1st ref. 4s, 1934, 
Denver & Rio Grande 1st 4s, 1949, 
Erie (Pennsylvania collateral) 4s, 1951, 
Erie series B convertible 4s, 1953, 
Federal Lt. & Traction Co. 1st 5s, 1942, 
Gal., H. & San A. (Tex., M. & P. Ext.) 5s, 1931, 
Galveston-Houston Electric 1st 5s, 1954, 
Georgia Ry. & Electric Co. 5s, 1932, . 
Interborough Rapid Transit Co. 5s, 1952, . 
Iowa Ry. & Light Co. 1st ref. 5s, 1932, 
Kansas City Southern 5s, 1950, 
Kings County Elevated 1st 4s, 1949, . 
Lehigh & Hudson River 2d cons. 5s, 1917, . 
Mahoning & Sh. Ry. & Lt. Co. 1st ref. 5s, 1916, 
Manhattan consolidated 4s, 1990, 
Michigan Central deb. 4s, 1929, 
Milwaukee El. Ry. & Light Co. 5s, 1951, . 
Missouri Pacific collateral trust 5s, 1917, 
Missouri Pacific equipment 5s, 1918, . 
Missouri Pacific equipment 5s, 1920, . 
Monongahela Val. Trac. Co. 1st ref. 5s, 1942, 
N. Y. Cent. & Hud. Riv. (Lake Sh. col.) 3*8, 1998 
N. Y., Chicago & St. Louis deb. 4s. 1931, . 
N. Y., N. H. & Hartford convertible 6s, 1948, 
N. Y., Ont. & Western general 4s, 1955, 
N. Y. Rys. Co. adjustment 4s, 1942, ; 
N. Y. Rys. Co. adjustment 5s, 1942, . 
N. Y. State Rys. 1st consolidated 4£s, 1962, 
Norfolk & Southern 1st ref. 5s, 1961, . 
Nor. Pac.-Gr. Nor. (C, B. & Q. col.) 4s, 1921, 
Northern Pac. (St. P. & Duluth Div.) 4s, 1996, 
Oklahoma 1st ref. 5s, 1941, 
Puget Sound Electric 1st cons. 5s, 1932, 
Rock Island, Ark. & La. 1st 4|s, 1934, 
Southern Pacific convertible 4s, 1929, 
Southern 4s, 1956, ..... 
St. L., Iron Mt. & So. (Riv. & G. Div.) 4s, 1933, 
St. Louis & San Francisco 6s, 1914, 
Tenn. C, I. & R.R. Co. (Tenn. Div.) 1st 6s, 1917 
United Lt. & Rys. Co. 1st ref. 5s, 1932, 
United Rys. Co., St. Louis, Mo., gen. 4s, 1934, 
Virginia Ry. & Power Co. 1st ref. 5s, 1934, 
Virginia & Southwestern 1st cons. 5s, 1958, 

Miscellaneous Bonds, 
Adirondack Elec. Power Corp. 1st 5s, 1962, 
American Tel. & Tel. Co. 4s, 1929, . 
Appalachian Power, Va., 1st 5s, 1941, 



Book Value. 
$9,807 84 
10,714 29 
27,155 61 
25,000 00 

5,102 89 
10,207 72 
16,983 68 

9,756 40 
11,441 68 

7,982 30 

4,000 00 
10,671 68 



00 
00 
96 
82 
15 
25 



40 
15 
82 
64 



23,850 

9,216 
14,399 

9,204 
24,282 
23,931 
15,000 00 
21,144 01 
40,417 65 
14,508 68 
30,487 62 
23,889 42 
21,932 72 
21,358 04 
19,206 40 

7,742 55 
14,056 45 
21,363 04 
23,775 01 
26,041 68 
25,295 
14,357 
24,512 
21,728 

5,000 00 

9,811 81 
29,167 68 
14,213 12 
25,000 00 
26,076 38 

9,978 
14,967 
24,032 

9,581 
31,703 31 

8,300 00 
27,072 32 

3,225 80 

8,903 22 
46,985 00 
10,000 00 

9,593 32 
10,000 00 
13,947 58 

9,833 32 
18,490 13 
25,657 70 
19,744 44 
21,032 67 

14.975 00 
10,270 85 

22.976 18 
8,804 78 

24,197 90 
9,862 00 

19,705 88 
28,072 35 
12,462 50 



60 
90 
25 
94 



Rate. 
96 

105 
96 
99 

100 
99 
98 
95 

107 

107 
98 

104 

91 

103 
91 
89 
96 
96 
98 
78 
76 
99 

105 
91 
87 
79 
89 
77 
93 

105 
96 

102 

104 
97 
98 
85 

101 
98 
94 
89 
96 
99 
99 
98 
95 
79 
88 

125 
90 
78 
57 
94 
98 
96 
94 
94 
89 
88 
93 
7S 
83 
99 

103 
92 
74 
95 
95 

99 

89 



00 
00 
00 
00 
00 
00 



Market Value. 
500 00 

10.500 

24,750 

5,000 

9,900 
16,' 

9,500 00 
10,700 00 

8,025 00 

3,920 00 
10,400 00 

22,750 00 

9,270 00 
14,500 00 

8,900 00 
24,000 00 
24,000 00 
14,700 00 
19,500 00 
38,000 00 
14,850 00 
31,500 
22,750 
21,750 
19,750 
17,800 00 

7,700 00 
13,950 
21,000 
24,000 
25,500 
26,000 
14,550 
24,500 00 
21,250 00 

5,050 

9,800 
28,200 
13,350 
24,000 
24,750 

9,900 
14,700 
23,750 

7,900 00 
30,800 00 
10,375 00 
27,000 00 

3,120 00 

8,550 00 
47,000 00 

9,800 00 

9,600 

9,400 
14,100 

8,900 
17,600 
23,250 
19,500 
20,750 
14.850 
10,300 00 
23.000 00 

7.400 00 
23,750 00 

9,500 00 

19,S00'00 
26,700 00 
12,300 00 



00 
00 
00 
00 



00 
00 
00 
00 
00 
00 



00 
00 
00 
00 
00 
00 
00 
00 
00 



nO 
00 
00 

00 

00 
00 
00 
00 
00 



ALBANY INSURANCE CO. 



119 



Brownville Paper Co. 5s, 1915, . 

Butte Electric & Power Co. 1st 5s, 1951, 

Consolidated Lighting Co. of Vt. 5s, 1926, . 

Consumers Power Co., Mich., 1st ref. 5s, 1936, 

Dayton Lighting Co., Ohio, 1st ref. 5s, 1937, 

Des Moines Electric Co. 1st 5s, 1938, 

Great Western Power Co. 1st 5s, 1946, 

Improved Prop. Holding Co., N. Y., 6s, 1918, 

Indiana & Mich. Elec. Co. 1st 5s, 1957, 

International Paper Co. 5s, 1935, 

Iroquois Iron Co. 5s, 1917, 

Iroquois Iron Co. 5s, 1918, 

Merchants Heat & Lt. Co., Ind., ref. 5s, 1922, 

Metrop. Gas Corp., San Francisco, Cal., 5s, 1941 

Mortgage Bond Co., New York, 4s, 1966, . 

New York & Westchester Light. Co. 4s, 2004, 

O. F. Tem. Asso., Little Falls, N. Y., 5s, 1913-30 

Pacific Gas & Electric Co. 5s, 1942, . 

Pacific Power & Light Co. 1st 5s, 1930, 

Portland, Ore., Gas & Coke Co. 1st ref. 5s, 1940, 

Raq. F. & Sup. Co., Massena, N. Y., 1st 6s, 1918 

Rockford, 111., Elec. Co. 1st ref. 5s, 1939, . 

San Joaquin Lt. & Power Co. 1st ref. 5s, 1950, 

Seattle Lighting Co. refunding 5s, 1949, 

So. Bell Telephone & Telegraph Co. 5s, 1941, 

Tennessee Power Co. 1st 5s, 1962, 

XJ. El. Lt. & P. Co., Bait., Md., 1st cons. 4§s, 1929 

Utica Gas & Electric Co. ref. 5s, 1957, 

West End Paper Co., Carthage, N. Y., 6s, 1916, 

West End Paper Co., Carthage, N. Y., 6s, 1917, 

Wisconsin Gas & Electric Co. 1st 5s, 1952, . 



Book Value. 


Rate. 


Market Value. 


$60,000 00 


100 


$60,000 00 


24,206 


40 


96 


24,000 00 


14,743 


32 


99 


14,850 00 


24,880 


00 


96 


24,000 00 


9,423 


08 


90 


9,000 00 


24,419 


64 


97 


24,250 00 


14,463 


12 


88 


13,200 00 


7,350 


01 


75 


5,250 00 


14,448 


96 


98 


14,700 00 


22,870 


40 


88 


22,000 00 


9,727 


81 


96 


9,600 00 


9,714 


21 


95 


9,500 00 


24,213 


63 


96 


24,000 00 


24,516 


66 


97 


24,250 00 


22,572 


35 


87 


21,750 00 


23,263 


10 


83 


20,750 00 


1, 18,000 


00 


100 


18,000 00 


23,185 


50 


90 


22,500 00 


23,650 


00 


94 


23,500 00 


24,774 


18 


99 


24,750 00 


8,000 


00 


50 


4,000 00 


9,627 


58 


98 


9,800 00 


13,976 


90 


93 


13,950 00 


19,026 


30 


95 


19,000 00 


24,335 


40 


99 


24,750 00 


12,648 


00 


81 


12,150 00 


23,660 


32 


93 


23,250 00 


15,143 


60 


100 


15,000 00 


4,000 


00 


103 


4,120 00 


4,000 


00 


104 


4,160 00 


24,268 


30 


97 


24,250 00 


$2,682,492 


18 


$2,666,865 00 



ALBANY INSURANCE COMPANY, ALBANY, N. Y. 

Incorporated March 8, 1811. Commenced business March 16, 1811. Reorganized June 1, 1881. 

Paid-up Capital, $250,000. 
JOHN E. McELROY, President. CHARLES H. HAHN, Secretary. 

Home Office, 93 State Street. 



Income. 
Net fire premiums, ........ 

Gross interest on mortgages, $11,319.33; stocks and bonds, 

$32,061.83; bank deposits, $432.50; gross rents, including $1,500 

for company's own occupancy,, $7,135,58, 
Gross profit on sale of stocks and bonds, 
McElroy and Hahn agency, . 
Borrowed money, .... 

Total income, 
Ledger assets, Dec. 31, 1911, . 

Total, 

Disbursements. 
Net amount paid policy holders for fire losses, . 
Expenses of adjustment and settlement of losses, 
Commissions or brokerage, ..... 
Salaries, fees, etc., of officers and employees. 
Rents, including $1,500 for company's own occupancy, 
Advertising, printing and stationery, 
Postage, telegrams, telephone and express, 
Legal expenses, . ..... 



$322,452 04 



50,949 24 

699 00 

3,050 30 

12,500 00 

$389,650 58 
1,021,683 37 



1,411,333 95 


$193,523 65 


4.084 73 


81,355 74 


16,715 29 


1,555 00 


3,641 53 


2,184 77 


75 50 



120 



ALBANY INSURANCE CO. 



Furniture and fixtures, ...... 

Maps, including corrections, ..... 

Underwriters' boards and tariff associations, 

Fire department, patrol and salvage corps fees and taxes, 

Inspections and surveys, 

Repairs and expenses on real estate, 

Taxes on real estate, 

State taxes on premiums, 

Insurance department licenses and fees, 

Other licenses, fees and taxes, 

Dividends to stockholders, 

Agents' balances charged off, . 

Gross loss on sale of stocks, 

Borrowed money repaid, 

Interest on borrowed money, . 

All other disbursements, 

Total disbursements, 

Balance, .... 

Ledger Assets. 
Book value of real estate, ..... 

Mortgage loans on real estate, .... 

Book value of stocks and bonds (Schedule A), . 
Cash in office, ....... 

Deposits in trust companies and banks not on interest, 
Deposits in trust companies and banks on interest, . 
Agents' balances, ....... 

Total ledger assets, . . ... 

Non-Ledger Assets. 

Interest due and accrued on: — 
Mortgages, $939.54; bonds, $4,028.29, 



51 20 

449 71 
3,667 89 

2,412 55 

441 52 

2,594 75 

1,704 18 

3,798 79 

589 06 

3,624 (39 

25,000 00 

671 10 

150 00 

12,500 00 

102 78 

399 70 

1,754 13 

$1,049,579 82 

> 75,000 00 

212.550 00 

683. 871 75 

3,732 38 

8,851 75 

17,000 00 

48,573 94 

$1,049,579 82 



Gross assets, ....... 

Assets not admitted. 

Agents' balances over three months due, . . $723 00 

Book value of stocks and bonds over market value, . 6,791 75 

Admitted assets, 

Liabilities. 

Unpaid losses, including $3,203.39 resisted, $29,789.96; less 

reinsurance, $1,340.41, ..... 

Unearned premiums on outstanding risks, 
Salaries, expenses and accounts, due or accrued, 
Federal, state and other taxes, due or accrued, 
Commissions and other charges due agents and brokers, 



4,967 83 
$1,054,547 65 



Total, 

Cash capital, 

Surplus over all liabilities, 

Surplus to policy holders. 

Total liabilities, including surplus, 



$250,000 00 
452,790 00 



7,514 75 
$1,047,032 90 



I 55 

308,690 51 

106 13 

5,522 28 
1,474 43 

$344,242 90 



702,790 00 
$1,047,032 90 



ALBANY INSURANCE CO. 



121 



Fire risks in force Dec. 31, 1911, 
Fire risks written during the year, . 
Excess premiums on account of reinsurance, 

Total, 

Expired and terminated, 

In force at end of year, .... 
Deduct amount reinsured, ... 

Net amount in force, 



Risks and Premiums. 

Risks. 

$62,200,969 00 
41,026,453 00 



Premiums. 

$618,828 13 

419,527 20 

1,507 73 



$103,227,422 00 $1,039,863 06 
37,792,962 00 388,614 39 



$65,434,460 00 
6,672,605 00 



$651,248 67 
63,419 63 



$58,761,855 00 $587,829 04 



Miscellaneous. 

Net premiums received from reorganization of company, . 

Net losses paid from reorganization of company, 

Cash dividends declared from reorganization of company, 

Stock dividends declared from reorganization of company, 

Fire losses incurred during the year, 

Dividends declared during the year (10 per cent.), 

Par value of company's stock owned by directors, 



$4,905,878 79 

2,540,882 53 

677,500 00 

50,000 00 

188,136 60 

25,000 00 

38,650 00 



Schedule A. Stocks and Bonds owned by the Company. 



Railroad Stocks. 
50 shares Conn. Ry. & Lighting, preferred, 
50 " Detroit & Mackinac, preferred, . 

Bank Stocks. 
50 shares N. Y. State National, Albany, . 

Miscellaneous Stocks. 

50 shares Central States Elec. Corp., pref., 

13 " Central States Elec. Corp., com., 

100 " Electrical Securities Corp., pref., 

100 " Mackay Companies, preferred, . 

Railroad Bonds. 
Atlantic, Knoxville & Northern 1st 5s, 1946, 
Central Pacific 1st ref. 4s, 1949, 
Chicago, Burlington & Quincy 4s, 1958, 

Columbus 4s, 1939, 

Delaware & Hudson convertible 4s, 1916, 

Detroit & Mackinac 4s, 1995, 

Houston, E. & W. Texas 1st 5s, 1933, 

Interborough-Metropolitan Col. trust 4£s, 1956, 

Lake Shore & Michigan So. deb. 4s, 1928, . 

Milwaukee Elec. Ry. & Lt. Co. 4£s, 1931, . 

N. Y. Central & Hudson River deb. 4s, 1934, 

New York State Rys. 4|s, 1962, 

New York, Westchester & Boston 4|s, 1946, 

Norfolk Southern 1st ref. 5s, 1961, 

Northern Pacific general 3s, 2047, 

Nor. Pac.-Gr. Nor. (C, B. & Q. col.) 4s, 1921, 

Pennsylvania convertible 3£s, 1915, 

St. Louis & San Francisco refunding 4s, 1951, 

Schenectady 1st 42-s, 1941, 

Springfield & Eastern 5s, 1922, . 

Texas Central 5s, 1923, .... 

Union of New York 5s, 1942, 

Union Pacific convertible 4s, 1927, 

United Traction Co., of Albany & Troy 4|s, 1919 

United Traction Co. consolidated 4|s, 2004, 

Virginia & Southwestern 5s, 2003, 

Virginia & Southwestern 1st cons. 5s, 1958, 

Wabash 1st 5s, 1939, .... 



Book Value. 

$4,000 00 

5,000 00 

14,654 00 

4,625 00 

390 00 

9,100 00 

7,050 00 

20,750 00 

4,875 00 

4,931 25 

4,275 00 

5,500 00 

12,399 25 

5,275 00 

8,187 50 

9,900 00 

11,970 00 

10,000 00 

9,400 00 

12,635 00 

15,075 00 

3,554 25 

9,650 00 

4,560 00 

24,000 00 

10,150 00 

5,342 00 

25,050 00 

10,000 00 

4,687 50 

15,140 00 

25,275 00 

25,632 00 

29,550 00 

25,000 00 



Rate. 

79 

110 

305 

90 
30 
84 
68 

109 

95 

95 

78 

97 

87 

104 

81 

92 

94 

91 

94 

98 

98 

68 

96 

97 

75 

103 

100 

102 

104 

97 

97 

96 

108 

95 

106 



Market Value. 

$3,950 00 

5,500 00 

15,250 00 

4,500 00 

390 00 

8,400 00 

6,800 00 



00 
00 
00 
00 
00 
00 



21,800 00 

4,750 00 

4,750 

3,900 

4,850 
11,310 

5,200 

8,100 

9,200 00 
11,280 00 

9,100 00 

9,400 00 
12,740 00 
14,700 00 

3,400 00 

9,600 

4,850 
18,000 
10,300 

5,000 
25,500 
10,400 00 

4,850 00 
14,550 00 
24,000 00 
27,000 00 
28,500 00 
26,500 00 



00 
00 
00 
00 
00 
00 



122 



THE ALLEMANNIA FIRE INSURANCE CO. 



Wabash (Chic. & Det. Ext.) 5s, 1941, 
Watervliet Turnpike & Ry. 6s, 1919, . 
Western New York & Pa. 5s, 1937, . 

Miscellaneous Bonds. 
American Tube & Stamping Co. 5s, 1932, 
Colorado Fuel & Iron Co. 5s, 1943, . 
Consumers Gas Co., Chicago, 5s, 1936, 
Electrical Securities Cor. 5s, 1936, 
Equitable Gas & Elec, Utica, 5s, 1942, 
General Motors Co. 1st 6s, 1915, 
Kings Co. Elec. Lt. & Power Co. 6s, 1997, 
Kings Co. Lighting 1st ref. 5s, 1954, . 
Laclede Gas Light Co., St. Louis, 5s, 1934, 
Montreal Light, Heat & Power Co. 4|s, 1932, 
N. Y. Gas & Elec. Lt., Heat & P. Co. 5s, 1948, 
Pacific Telegraph & Telephone Co. 5s, 1937, 
Peoples Gas Light, Chicago, 6s, 1943, 
Portland Gas & Coke Co. 1st ref. 5s, 1940, . 
Scranton Elec. Co. 1st ref. 5s, 1937, . 
Union Elec. Light & Power, St. Louis, 5s, 1932, 
United Elec. Light & Power, Baltimore, 4*s, 1929 
United States Rubber Co. 6s, 1918, . 
United States Steel Corp. 2d 5s, 1963, 
Utica Gas & Elec. Co. ref. and ext. 5s, 1957, 
Watertown Light & Power Co. 1st 5s, 1959, 



Book Value. 
$8,896 50 
16,060 00 
25,000 00 

11,530 00 
10,150 00 

5,350 00 
10,000 00 

8,000 00 
13,868 75 

5,950 00 
30,300 00 
10,237 50 

5,125 00 
10,656 25 

9,837 50 
15,922 50 
20,100 00 

4,800 00 
10,030 00 

9,500 00 
10,362 50 
25,062 50 

4,625 00 

4,925 00 

$683,871 75 



Rate. 
107 
107 
107 

90 

98 
102 
100 
104 

99 
113 
100 
101 
100 
102 
100 
116 

99 
102 
101 

93 
103 
102 
100 
100 



Market Value. 

30 00 
16,05 

26,750 00 

10,800 00 

9,8' 

5,100 00 

10,000 00 

8,320 00 

13,800 00 

5,650 00 

30,000 00 

10,100 00 

5,000 00 

10,200 00 

10,000 00 

17,400 00 

19,800 00 

5,100 00 

10,100 00 

9,300 00 

10,300 00 

25,500 00 

5,000 00 

5,000 00 

$677,080 00 



THE ALLEMANNIA FIRE INSURANCE COMPANY, PITTSBURGH, PA. 

Incorporated April 1, 1868. Commenced business July 1, 1868. 

Cash Capital, $200,000. 

W. STEINMEYER, President. C. P. KELLERMAX, Secretary. 

Home Office, 316 Fourth Avenue, Pittsburgh, Pa. 

Income. 

Net fire premiums, $781,399 90 

Gross interest on mortgages, $54,805.13; collaterals, SI. 400.50; 
stocks and bonds, $19,395.24; bank deposits, $1,862.86; all 

other, $450.91; gross rents, $3,968, 81,882 64 

Gross profit on maturity of bonds, ...... 250 00 



Total income, 
Ledger assets, Dec. 31, 1911, 

Total, . 



Disbursements. 



Net amount paid policy holders for fire losses, . 
Expenses of adjustment and settlement of losses, 
Commissions or brokerage, .... 

Salaries and expenses of special and general agents, 
Salaries, fees, etc., of officers and employees, 
Rents, ....... 

Advertising, printing and stationery, 
Postage, telegrams, telephone and express, 
Legal expenses, ...... 

Furniture and fixtures, ..... 

Maps, including corrections, .... 

Underwriters' boards and tariff associations, 

Fire department, patrol and salvage corps fees and taxes, 



$863,532 54 
1,580,704 09 

$2,444,236 63 



$383,942 72 

9,105 83 

198,212 00 

21.225 34 

44,5S5 34 

7,002 62 

7.599 31 

7.223 45 

605 53 

1,178 15 

4,260 79 

11,156 91 

8,926 08 



THE ALLEMANNIA FIEE INSURANCE CO. 



123 



Inspections and surveys, .... 

Repairs and expenses on real estate, 

Taxes on real estate, ..... 

State taxes on premiums, .... 

Insurance department licenses and fees, . 

Other licenses, fees and taxes, 

Dividends to stockholders, .... 

Gross decrease in book value of bonds, 

All other disbursements, .... 

Total disbursements, .... 

Balance, ...... 

Ledger Assets. 
Book value of real estate, .... 

Mortgage loans on real estate, 
Loans secured by collateral (Schedule A), 
Book value of stocks and bonds (Schedule B), . 
Cash in office, ...... 

Deposits in trust companies and banks on interest, 
Agents' balances, ...... 

Bills receivable, ...... 

Total ledger assets, .... 

Non-Ledger Assets. 

Interest due and accrued on : — 
Mortgages, $15,383; bonds, $4,235; collateral loans, $338; 

dividends on stocks, $730, ....... 

Rents accrued on company's property, . 
Market value of real estate over book value, . 
Market value of stocks and bonds over book value, . 

Gross assets, ......... 



$508 41 


1,465 02 


1,230 63 


8,531 29 


4,926 50 


2,488 67 


30,000 00 


215 00 


1,658 97 


. $756,048 56 


$1,688,188 07 


$95,901 63 


. 890,750 00 


28,000 00 


380,530 50 


10,095 11 


153,250 20 


120,118 00 


9,542 63 


. $1,688,188 07 



20,686 00 
400 00 
367 07 

54,399 50 

$1,764,040 64 



Assets not admitted. 

Agents' balances over three months due, . . $4,796 82 

Dividends on stocks, . . ... . . 730 00 

Admitted assets, ........ 

Liabilities. 
Unpaid losses, including $8,656 resisted, $69,024.48; less reinsur- 
ance, $6,467, 

Unearned premiums on outstanding risks, 
Salaries, expenses and accounts, due or accrued, 
Federal, state and other taxes, due or accrued, 
Commissions and other charges due agents and brokers, 
Due for reinsurance, ....... 



Total, 

Cash capital, .... 

Surplus over all liabilities, 
Surplus to policy holders, 

Total liabilities, including surplus, 



$200,000 00 
712,057 50 



5,526 82 
$1,758,513 82 



$62,557 48 

764,018 09 

2,761 46 

13,600 00 

1,218 00 

2,301 29 

$846,456 32 



912,057 50 

$1,758,513 82 



124 



THE ALLEMANNIA FIRE INSURANCE CO. 



Fire risks in force Dec. 31, 1911, 
Fire risks written during the year, 

Total, .... 
Expired and terminated, 

In force at end of year, . 
Deduct amount reinsured, 

Net amount in force, 



Risks and Premiums. 

Risks. Premiums. 

$167,340,029 00 §1,710,093 68 
104,593,981 00 1,099,406 94 



8271,934,010 00 §2,809,500 62 
98,861,080 00 1,065,688 70 



§173,072,930 00 §1,743,811 92 
23,304,686 00 248,979 08 



$149,768,244 00 §1,494,832 84 



Miscellaneous. 
Xet premiums received from organization of company, 
Net losses paid from organization of company, 
Cash dividends declared from organization of company, 
Stock dividends declared from organization of company, 
Fire losses incurred during the year, 
Dividends declared during the year (15 per cent.), 
Par value of company's stock owned by directors, 



§13,932,102 44 
6,638,481 15 
618,600 00 
50,000 00 
365,014 51 
30,000 00 
45,800 00 



Schedule A. Securities held as Collateral. 

Company's 
Market Value. 
$6,356 00 
15,900 00 \ 

3,150 00 / 
10,500 00 

9,200 00 J 



Policy State Mut. Life Assurance Co., 
153 shares Pittsburg Plate Glass Co., 

18 " Colonial Trust Co 

100 " National Lead Co., pref., . 

100 " Crucible Steel Co. of America, pref. 



Loaned 

Thereon. 

$5,000 00 

15,000 00 
8,000 00 



$45,106 00 



»0 00 



Schedule B. Stocks and Bonds owned by the Company. 



Bank Stocks. 
92 shares Bessemer Trust Co., Braddock, Pa. 
148 " Braddock National, . 

Miscellaneous Stocks. 
1 share Western Adj. & Insp. Co., Chicago, 

Municipal Bonds. 
Fairmont, W. Va., Palatine School 4§s, 1915, 
Glassport, Pa., school district 5s, 1913, 
Glassport, Pa., school district 5s, 1914-15, 
Glassport, Pa., school district 5s, 1916, 
Glassport, Pa., school district 5s, 1917-18, 
Glassport, Pa., school district 5s, 1919-21, 
Glassport, Pa., school district 5s, 1922-23, 
Glassport, Pa., school district 5s, 1924-26, 
Glassport, Pa., school district 5s, 1927-29, 
Glassport, Pa., school district 5s, 1930-33, 
Glassport, Pa., school district 5s, 1934-37, 
New Brighton, Pa., school district 5s, 1913, 
New Brighton, Pa., sc'^ool < istrict 5s, 1915, 
New Brighton, Pa., school district 5s, 1917, 
New Brighton, Pa., school district 5s, 1919, 
New Brighton, Pa., school district 5s, 1921-23, 
New Brighton, Pa., school district 5s, 1925, 

Railroad Bonds. 
Ft. Wayne & Wabash Val. Trac. Co. 5s, 1934, 
Ind., Columbus & East. Traction Co. 5s, 1926, 
Pittsburg & Butler Street 5s, 1935. 
Youngstown & Sharon Ry. «fe Lt. Co. 5s, 1931, 

Miscellaneous Bonds. 
Four States Coal & Coke Co. 5s, 1913, 
Greenville Water Co., Pa., 5s, 1932, . 



Book Value. 

$9,200 00 

8,288 00 

200 00 

19,000 00 



47,000 00 



16,000 00 



19,000 00 

9,650 00 

10,000 00 

26,650 00 

31,680 00 
30,000 00 



Rate. 
175 
400 

200 

100 
100 
101 
102 
103 
104 
105 
106 
107 
108 
109 
100 
101 
103 
104 
105 
106 

80 
91 
70 
99 

99 
100 



Market Value. 

$16,100 00 

59,200 00 

200 00 

19,000 00 

1,000 00 

2,020 00 

1.020 00 

2,060 00 

5,200 00 

4,200 00 

6,360 00 

6.420 00 

rO 00 

13.0S0 00 
2,000 00 
3.030 00 
00 
3.120 00 
5.250 00 
1,060 00 

16,000 00 
9,100 00 
7,000 00 

26.730 00 

31.680 00 
30,000 00 



THE ALLIANCE INSURANCE CO. OF PHILADELPHIA. 



125 



Indiana Steel Co. 5s, 1952, 

Jamison Coal Co. 5s, 1930, 

Keystone Coal & Coke Co. 6s, 1923, 

Monongahela River Cons. C. & C. Co. 6s, 1949, 

Mt. Pleasant Coke Co. 6s, 1923, 

National Tube Co. 5s, 1952, 

Pittsburgh-Buffalo Co. 5s, 1929, 

St. Louis Smelting & Refining Co. 5s, 1920, 



Book Value. 


Rate. 


Market Value. 


$15,150 00 


101 


$15,150 00 


19,000 00 


95 


19,000 00 


30,500 00 


100 


30,000 00 


10,850 00 


116 


11,600 00 


10,000 00 


100 


10,000 00 


35,387 50 


99 


34,650 00 


9,975 00 


100 


10,000 00 


23,000 00 


100 


23,000 00 


8380,530 50 


$434,930 00 



THE ALLIANCE INSURANCE COMPANY OF PHILADELPHIA, 

PHILADELPHIA, PA. 

Incorporated Dec. 5, 1904. Commenced business Jan. 1, 1905. 

Paid-up Capital, $750,000. 

EUGENE L. ELLISON, President. T. HOUARD WRIGHT, Secretary. 

Home Office, 282 Walnut Street. 

Income. 
Net fire premiums, $676,091.48, marine, $360,352.25, . . $1,036,443 73 



,848.43; bank deposits 



Deposit premiums on perpetual risks, 
Gross interest on stocks and bonds, 

$2,035.94; all other, $0.39, . 
Gross profit on maturity of bonds, 
From all other sources, . 

Total income, 
Ledger assets, Dec. 31, 1911, . 

Total, .... 

Disbursements. 

Net amount paid policy holders for fire losses, $366,950.25 

marine, $121,126.47, 

Expenses of adjustment and settlement of losses, 
Commissions or brokerage, .... 

Agency expenses, ...... 

Salaries and expenses of special and general agents, 
Salaries, fees, etc., of officers and employees, 
Rents, ....... 

Advertising, printing and stationery, 
Postage, telegrams, telephone and express, 
Legal expenses, ...... 

Furniture and fixtures, ..... 

Maps, including corrections, .... 

Underwriters' boards and tariff associations, 

Fire department, patrol and salvage corps fees and taxes, 

Inspections and surveys, 

State taxes on premiums, 

Insurance department licenses and fees, 

Other licenses, fees and taxes, 

Deposit premiums returned, . 

Dividends to stockholders, . * . 

Gross loss on maturity of bonds, 

All other disbursements, 

Total disbursements, 

Balance, .... 



2,719 50 

70,884 76 

483 00 

38 37 



$1,110,569 36 


2,075,675 63 


$3,186,244 99 


$488,076 72 


6,566 29 


216,399 54 


11,309 99 


23,046 71 


22,965 14 


4,912 46 


7,224 73 


3,554 33 


2,178 82 


254 41 


1,597 48 


9,065 15 


6,079 33 


923 48 


14,693 73 


6,133 68 


8,212 73 


603 50 


60,000 00 


385 00 


50 00 


$894,233 22 



$2,292,011 77 



126 



THE ALLIANCE INSURANCE CO. OF PHILADELPHIA. 



Ledger Assets. 

Book value of stocks and bonds (Schedule A), . 
Cash in office, ....... 

Deposits in trust companies and banks not on interest, 
Deposits in trust companies and banks on interest, . 
Agents' balances, ....... 

Bills receivable, ....... 

Total ledger assets, ..... 

Interest accrued on bonds, 
Salvage, 

Gross assets, . 

Assets not admitted. 

Agents' balances over three months due, . . $4,559 80 

Book value of stocks and bonds over market value, 68,525 50 
Salvage, 1,165 00 



Non-Ledger Assets. 



81,987,975 50 

59 18 

9,763 80 

145,281 12 

147,785 92 

1,146 25 

S2,292,011 77 



21,010 38 
1,165 00 

$2,314,187 15 



Admitted assets,* ........ 

Liabilities. 
Unpaid losses, including $9,125.33 resisted, $184,917; less reinsur- 
ance, $24,817, 

Unearned premiums on outstanding risks, 
Reclaimable on perpetual fire policies, 
Salaries, expenses and accounts, due or accrued, 
Federal, state and other taxes, due or accrued, 
Commissions and other charges due agents and brokers, 
Due for reinsurance, ...... 



Total, 

Cash capital, ...... 

Surplus over all liabilities, .... 

Surplus to policy holders, . . . . - 

Total liabilities, including surplus, 

Risks and Premiums. 



$750,000 00 
626,940 36 



74,250 30 
$2,239,936 85 



S160,100 00 

655,470 71 

14,977 58 

6,500 00 

7,000 00 

12,750 00 

6,198 20 

$862,996 49 



Fire risks in force Dec. 31, 1911, 
Fire risks written during the year, 

Total, . . 
Expired and terminated, 

In force at end of year, . 
Deduct amount reinsured, 



Net amount in force, . . . 
Perpetual risks in force (not included above), 



Risks. 

$99,277,068 00 
86,898,501 00 

$186,175,569 00 
79,593,819 00 

$106,581,750 00 
16,378,159 00 

$90,203,591 00 

$530,400 00 



1,376,940 36 
$2,239,936 85 

Premiums. 

$1,171,914 67 
1,019,441 28 

$2,191,355 95 
960,549 31 

$1,230,806 64 
199,474 41 

$1,031,332 23 

$16,641 75 



* These assets include deposits in this country amounting to $9,000, which the company has made 
for the protection of certain policy holders. Liabilities of $10,914.63 have accrued against these deposits, 
which are included in the total liabilities of the company. 



THE ALLIANCE INSURANCE CO. OF PHILADELPHIA. 



127 



Marine risks in force Dec. 31, 1911, 

Marine risks written during the year, 



Total . 
Expired and terminated, 

In force at end of year, . 
Deduct amount reinsured, 

Net amount in force, 



$10,227,966 00 
64,351,963 00 

$74,579,929 00 
53,348,527 00 

$21,231,402 00 
772,315 00 



Premiums. 

$236,446 80 
458,859 64 

$695,306 44 
466,666 07 

$228,640 37 
20,492 64 



$20,459,087 00 $208,147 73 



Miscellaneous. 
Net premiums received from organization of company, 
Net losses paid from organization of company, 
Cash dividends declared from organization of company, 
Fire losses incurred during the year, 
Marine and inland losses incurred during the year, . 
Dividends declared during the year (8 per cent.), 
Par value of company's stock owned by directors, 



$6,377,121 44 

4,027,718 72 

180,000 00 

367,135 25 

171,871 47 

60,000 00 

65,250 00 



Schedule A. Stocks and Bonds 

Railroad Stocks. 
630 shares Norfolk & Western, 

Miscellaneous Stocks. 
200 shares American Tel. & Tel. Co., 
1,000 " United Gas Improvement Co., 
State, County and Municipal Bonds. 
Atlanta, Ga., 3£s, 1931, .... 
Luzerne County, Pa., 4|s, 1919-20, 

New York 4s, 1962 

New York, N. Y., 3§s, 1954, 

New York, N. Y., 4s, 1959, 

North Carolina 4s, 1951, .... 

Philadelphia, Pa., 3|s, 1932-34, 

Railroad Bonds. 
Atch., Top. & Santa Fe convertible 4s, 1960, 
Baltimore & Ohio prior lien 3?s, 1925, 
Central Pacific 1st ref. 4s, 1949, 
Central Pacific (Through Short Line) 4s, 1954, 
Chesapeake & Ohio equipment 4s, 1913, 
Chesapeake & Ohio equipment 4s, 1914, 
Chicago & Eastern Illinois ref. 4s, 1955, 
Chicago, Burl. & Quincy general 4s, 1958, . 
Coal River 1st 4s, 1945, .... 
Consolidated Traction Co., New Jersey, 5s, 1933 
Erie (Buffalo & So. Western) 5s, 1918, 
Erie equipment 4s, 1914, . 
Georgia Ry. & Electric Co. ref. 5s, 1949, 
Ind., Col. & East. Trac. Co. gen. ref. 5s, 1926, 
Jefferson 1st extended 5s, 1919, . 
Lake Shore & Michigan Southern deb. 4s, 1928, 
Long Island Ferry 1st 4§s, 1922, 
N Y. Cent. & Hudson River deb. 4s, 1934, 
Norfolk & Western 1st general 4s, 1944, 
Nor. & West. Ry. & Poca. C. & C. Co. 4s, 1941, 
Pennsylvania & Northwestern general 5s, 1930, 
Pennsylvania convertible 3|s, 1915, . 
Public Service Corp., N. J., general 5s, 1959, 
Read. Co. (Jersey Central col.) 4s, 1951, 
Rich.-Washington Co., col. trust 4s, 1943, . 
Rio Grande Western cons. 1st 4s, 1949, 
Southern Pacific 1st ref. 4s, 1955, 
Terminal Asso. of St. Louis gen. ref. 4s, 1953, 

Virginian 1st 5s, 1962 

Wash. Term. Co. 1st 3Js, 1945, . 



OWNED BY THE COMPANY. 

Book Value. Rate. Market Value. 

$62,025 00 113 $71,190 00 



27,225 


00 


141 


28,200 00 


86,265 


25 


180 


90,000 00 


10,000 


00 


90 


9,000 00 


20,950 


00 


102 


20,400 00 


50,187 


50 


101 


50,500 00 


205,250 


00 


85 


170,000 00 


50,570 


00 


96 


48,000 00 


20,150 


00 


101 


20,200 00 


205,550 


75 


94 


188,000 00 


15,206 


25 


103 


15,450 00 


9,200 


00 


92 


9,200 00 


33,425 


00 


95 


33,250 00 


47,125 


00 


91 


45,500 00 


16,622 


60 


100 


17,000 00 


32,234 


40 


99 


32,670 00 


19,100 


00 


78 


15,600 00 


19,325 


00 


95 


19,000 00 


14,475 


00 


87 


13,050 00 


27,197 


50 


103 


25,750 00 


14,812 


50 


99 


14,850 00 


23,210 


00 


99 


24,750 00 


14,812 


50 


99 


14,850 00 


22,750 


00 


91 


22,750 00 


12,030 


00 


102 


12,240 00 


50,062 


50 


92 


46,000 00 


15,225 


00 


98 


14,700 00 


50,062 


50 


91 


45,500 00 


45,800 


00 


93 


46,500 00 


23,906 


25 


92 


23,000 00 


25,156 


25 


107 


26,750 00 


115,611 


25 


97 


116,400 00 


48,000 


00 


92 


46,000 00 


49,578 


75 


96 


48,000 00 


10,350 


00 


95 


9,500 00 


22,968 


75 


79 


19,750 00 


14,175 


00 


93 


13,950 00 


49,625 


00 


95 


47,500 00 


49,500 


00 


99 


49,500 00 


47,837 


50 


86 


47,300 00 



128 



AMERICAN INSURANCE CO. 



Miscellaneous Bonds. 
American Tel. & Tel. Co. 4s, 1929, 
Cambria Steel Co. 5s, 1914, 
Manufacturers Water Co. 1st 5s, 1939, 
Minneapolis Gas Light Co. 1st gen. 5s, 1930, 

Phila Electric 5s, 1948 

Pitts. Term. Warehouse & T. Co. 1st ref. 5s, 1936, 
United States Steel Corp. 5s, 1963, . 



Book Value. 


Rate. 


Market Value. 


$45,125 00 


89 


$44,500 00 


50,187 50 


100 


50,000 00 


10,162 50 


102 


10,200 00 


50,290 00 


100 


50,000 00 


51,170 00 


103 


51,600 00 


24,875 00 


100 


.<) 00 


7b,607 50 


102 


70,500 (?0 


$1,987,975 50 


$1,919,450 00 



AMERICAN INSURANCE COMPANY, NEWARK, N. J. 

Incorporated Feb. 20, 1846. Commenced business April 1, 1846. 

Paid-up Capital, $1,000,000. 

PHILEMON L. HOADLEY, President. C. WESTON BAILEY, Secretary 

Home Office, 70 Park Place. 



Income. 
Net fire premiums, $3,897,696.69; marine, $36,365, 



Gross interest on mortgages, §83,483.41; stocks and bonds, 
$281,427.03; bank deposits, $3,084.03; all other, $1,777.26; 
gross rents, including $18,151.46 for company's own occupancy, 
$26,242.65, 

Agents' balances previously charged off, ..... 

Sale of rights, ......... 



. $3,934,061 69 



Total income, 
Ledger assets, Dec. 31, 1911, 

Total, . 



396,014 38 

24 36 

4,993 13 

$4,335,093 56 

9,436,395 81 



$13,771,489 37 



Disbursements. 
Net amount paid policv holders for fire losses, $1,873,329.50 

marine, $5,592.68, . . 

Expenses of adjustment and settlement of losses, 
Commissions or brokerage, ..... 

Salaries and expenses of special and general agents, . 

Salaries, fees, etc., of officers and employees, 

Rents, including $18,151.46 for company's own occupancy, 

Advertising, printing and stationery, 

Postage, telegrams, telephone and express, 

Legal expenses, ....... 

Furniture and fixtures, ...... 

Maps, including corrections, ..... 

Underwriters' boards and tariff associations, 

Fire department, patrol and salvage corps fees and taxes, 

Inspections and surveys, 

Repairs and expenses on real estate, 

Taxes on real estate, 

State taxes on premiums, 

Insurance department licenses and fees, 

Other licenses, fees and taxes, 

Dividends to stockholders, 

Dividends to policy holders, . 

Agents' balances charged off, . 



$1,878,922 18 

53.203 47 
971,156 59 
115.179 35 
170.388 51 

18.204 34 
40,922 68 
29,545 65 

609 50 

4.150 12 

7,550 86 

24,057 07 

31,526 50 

27.159 71 

1,882 9S 

8,013 53 

64.921 31 

21,345 79 

13.613 38 

240,000 00 

54 00 

777 27 



AMERICAN INSURANCE CO. 



129 



Gross decrease in book value of stocks and bonds, 
All other disbursements, ..... 

Total disbursements, ..... 

Balance, ....... 

Ledger Assets. 
Book value of real estate, ..... 

Mortgage loans on real estate, .... 

Book value of stocks and bonds (Schedule A), . 
Cash in office, . . . . . 

Deposits in trust companies and banks not on interest, 
Deposits in trust companies and banks on interest, . 
Agents' balances, ....... 

Bills receivable, ....... 

Total ledger assets, ..... 

Non-Ledger Assets. 

Interest due and accrued on : — 
Mortgages, $23,982.26; bonds, $60,908.51, 
Rents due and accrued on company's property, 

Gross assets,* ...... 

Assets not admitted. 

Agents' balances over three months due, 
Bills receivable, past due, taken for premiums, 
Book value of stocks and bonds over market value, 
Special deposits less $7,153.97 liability thereon, . 

Admitted assets,f ..... 



$28,596 64 

23,924 77 

$3,775,706 20 

$9,995,783 17 



$468,000 00 

1,757,740 75 

6,531,679 77 

640 64 

25,000 00 

296,940 42 

544,883 01 

370,898 58 

$9,995,783 17 



84,890 77 
34 45 

$10,080,708 39 



$1,471 45 

44,550 93 

168,061 44 

46,014 36 



260,098 18 



. $9,820,610 21 



Liabilities. 

Unpaid losses, including $29,450 resisted, $483,532.69; less rein- 
surance, $89,083.40, . . 

Unearned premiums on outstanding risks, ... 

Dividends declared and unpaid to stockholders $70,000; to policy 
holders, $111, . 

Salaries, expenses and accounts, due or accrued, 

Federal, state and other taxes, due or accrued, 

Commissions and other charges due agents and brokers, 

Special reserve fund, ...... 

Total, 

Cash capital, .... 

Surplus over all liabilities, 
Surplus to policy holders, 

Total liabilities, including surplus, 



$394,449 29 
4,780,446 98 

70,111 00 
2,500 00 

40,000 00 
143,684 53 
300,000 00 



$1,000,000 00 
3,089,418 41 



$5,731,191 80 

4,089,418 41 
$9,820,610 21 



* Including $300,000 special reserve held under New Jersey laws. The company holds also instalment 
premium notes to the amount of $213,130.22, which do not enter into or form any part of the assets of 
the company, as no portion of them is earned. Whatever value is attached to them would necessarily 
be counterbalanced by the addition of an amount exactly equal to the reinsurance liability, the entire 
sum consisting of "unearned premiums." 

t These assets include deposits in this country amounting to $62,100, which the company has made 
for the protection of certain policy holders. Liabilities have accrued against these deposits, which are 
included in the total liabilities of the company. The excess of these deposits over corresponding liabilities 
is $25,444.88, which is included in the surplus and is subject to a lien under the conditions of the special 
deposit, which, in certain contingencies, would, it should be noted, remove said excess from the funds 
available to pay the claims of general policy holders. 






130 



AMERICAN INSURANCE CO. 



Risks and Premiums. 



Fire risks in force Dec. 31, 1911,' 
Fire risks written during the year, . 

Total, . . 
Expired and terminated, 

In force at end of year, . 
Deduct amount reinsured, 

Net amount in force, 

Marine risks written during the year, 
Expired and terminated, 

In force at end of year, . 
Deduct amount reinsured, 

Net amount in force, 



Risks. 



Premiums. 



8954,316,625 00 $9,868,825 03 
555,277,045 00 5,581,257 76 



$1,509,593,670 00815,450,082 79 
. 486,620,210 00 5,204,705 26 



81,022,973,460 00810,245,377 53 
. 113,689,354 00 1,174,246 01 



. 8909,284,106 00 89,071,131 52 

81,796,121 00 $44,086 05 
288,372 00 7,993 18 



81,507,749 00 836,092 87 
46,750 00 705 85 



SI. 460,999 00 $35,387 02 



Miscellaneous. 

Net premiums received from organization of company, 
Net losses paid from organization of company, . 
Cash dividends declared from organization of company, 
Stock dividends declared from organization of company, 
Fire losses incurred during the year, 
Marine and inland losses incurred during the year, . 
Dividends declared during the year (25 per cent.), 
Par value of company's stock owned by directors, 



846,034,606 70 

21,909,238 62 

3,978,058 26 

600,000 00 

1,967,562 22 

11,237 68 

250,000 00 

75,820 00 



Schedule A. Stocks and Bonds owned by the Company. 



Railroad Stocks. 

700 shares Atch., Top. & Santa Fe, preferred, 

600 " Baltimore & Ohio, preferred, . 

1,000 " Chicago, Mil. & St, Paul, pref., 

500 " Chicago & Northwestern, 

500 " Chicago, St. Paul, Minn. & O. pref., 

700 " Great Northern, preferred, 

300 " Illinois Central. 

500 " Louisville & Nashville, . 

700 " Minn., St. P. & S. Ste. Marie, pref., 

5,000 " Morris & Essex, 

200 " New York, New Haven & Hartford, 

500 " Norfolk & Western, 

500 " Northern Pacific, . 

1,050 " Pennsylvania, 

500 " Pitts., Cin., Ch. & St. Louis, pref., 

500 " Union Pacific, preferred, 

2,000 " United N. J. R.R. & Canal Co., 

Miscellaneous Stocks. 
600 shares American Tel. & Tel. Co., 

8 " Gen. Adjust. Bureau of New York, 
500 " Pullman Co., ... 

5 " Underwriters' Salvage Co., Chicago, 
5 " Underwriters' Salvage Co., N. Y., 
1 share West. Adj. & Insp. Co., Chicago, 
Government Bonds. 
District of Columbia 3.65s, 1924, 
United States 2s, 1930 



Book Value. 

$72,862 50 
54,100 00 

159,634 37 
75,562 50 
78,324 72 
94,137 50 
44,537 50 
67,025 00 

104,887 50 

461,334 64 
31,259 38 
49,797 50 
68,875 00 
69,472 66 
56,687 50 
47,162 50 

520,927 50 

80,837 50 
400 00 

82.245 00 
500 00 
500 00 
100 00 

33,162 81 
30,000 00 



Rate. 
102 

87 
140 
138 
152 
130 
127 
141 
149 
175 
128 
113 
121 
122 
113 

92 
238 

141 
100 
165 
100 
150 
200 

106 
101 



00 
00 
00 
00 



Market Value. 

$71,400 00 
52.200 00 

140,000 00 
69,000 00 
76,000 00 
91,000 00 
38,100 00 
70,500 00 

104.300 

437,500 
25,600 
56,500 
60,500 00 
64,050 00 
56,500 00 
46,000 00 

476,000 00 

84.600 00 
400 00 
500 00 
500 00 
750 00 
200 00 

31.SO0 00 
30,300 00 



AMERICAN CENTRAL INSURANCE CO. 



131 



County and Municipal Bonds. 
Bayonne, N. J M 5s, 1928, . 
Bergen County, N. J., 4£s, 1933-34, . 
Bergen County, N. J., 4£s, 1935-37, . 
Essex County, N. J., hospital 4s, 1947-49,' 
Hackensack, N. J., 4§s, 1942, . 
Madison, N. J., 4|s, 1916, 
Montclair, N. J., 4|s, 1942, 
Newark, N. J., 4s, 1957, . 
Passaic County, N. J., 4|s, 1929, 
Toronto, Ont., deb. gen. consol. 4s, 1948, 
Union County, N. J., 4Js, 1942, 

Railroad Bonds. 
Central of New Jersey general 5s, 1987, 
Consolidated Traction Co. 5s, 1933, 
Easton & Amboy 5s, 1920, 
Lehigh Valley Term. 5s, 1941, . 
Midland of New Jersey 5s, 1940, 
Morris & Essex 1st 7s, 1914, 
Morris & Essex 1st cons. 7s, 1915, 
Newark Passenger 5s, 1930, 
New York & Greenwood Lake 5s, 1946, 
N. Y., Susquehanna & West. Terminal 5s, 1943, 
North Hudson County 5s, 1928, 
Trenton Passenger consolidated 6s, 1923, 
Trenton Passenger consolidated 63, 1925, 
Trenton Passenger consolidated 6s, 1926, 
Trenton Passenger consolidated 6s, 1927-28, 
Trenton Passenger consolidated 6s, 1930-31, 
United New Jersey R.R. & Canal gen. 4s, 1929, 
United New Jersey R.R. & Canal gen. 4s, 1944, 
West Jersey & Seashore 1st 3|s, 1936, 
West Jersey & Seashore 1st 4s, 1936, . 

Miscellaneous Bonds. 
American Dock & Improvement Co. 5s, 1921, 
Long Dock consolidated 6s, 1935, 
Mortgage Bond Co. of New York 5s, 1932, . 
N. Y., Lake E. & W. Docks & Imp. Co. 6s, 1913, 
Newark Gas Co. 1st 6s, 1944 



Book Value. 

8135,606 25 

10,349 50 

15,560 25 

202,956 30 

25,837 50 

5,000 00 

52,000 00 

101,780 00 

35,962 50 

54,007 82 

51,978 00 

299,966 09 
130,529 07 
227,012 36 
245,000 14 
123,927 50 

41,500 47 

231,328 80 

164,708 68 

139,337 68 

162,605 67 

142,354 10 

2,250 

3,427 

3,458 

10,494 

35,374 25 

51,525 69 
104,514 00 

14,641 50 
100,000 00 

361,787 96 
434,431 79 
15,000 00 
199,061 02 
312,070 96 

§6,531,679 77 



60 
26 
28 
20 



Rate. 
108 
103 
104 

98 
103 
100 
106 

99 
102 

95 
105 

119 
103 
105 
112 
110 
103 
105 
107 
104 
108 
104 
109 
110 
111 
112 
114 
100 
100 
89 
99 

105 
124 
100 
100 
126 



Market Value. 

$135,000 00 

10,300 00 

15,600 00 

196,000 00 

25,750 00 

5,000 00 

53,000 00 

99,000 00 

35,700 00 

53,168 33 

52,500 00 

282,030 00 

125,660 00 

225,750 00 

252,000 00 

125,400 00 

41,200 00 

231,000 00 

160,500 00 

136,240 

155,520 

142,480 

2,180 

3,300 

3,330 

10,080 

34,200 00 

50,000 00 

100,000 00 

13,350 00 

99,000 00 

357,000 00 
441,440 00 
15,000 00 
196,000 00 
313,740 00 

$6,363,618 33 



00 
00 
00 
00 
00 
00 
00 



AMERICAN CENTRAL INSURANCE COMPANY, ST. LOUIS, MO. 

Incorporated February, 1853. Commenced business February, 1853. 

Paid-up Capital, $2,000,000. 

EDWARD T. CAMPBELL, President. B. G. CHAPMAN, Jr., Secretary. 

Home Office, 816 Olive Street. 

Income. 

'Net fire premiums, $3,230,041.71; marine, $11,093.28, . . $3,241,134 99 
Gross interest on mortgages, $1,794; collaterals, $18,552.24; 
stocks and bonds, $205,562.50; bank deposits, S914.39; all 

other, $359.85, 227,182 98 

Gross profit on sale or maturity of bonds, .... 6,29250 

Borrowed money, 175,000 00 

From all other sources, ........ 30 00 



Total income, 
Ledger assets, Dec. 31, 1911, . 

Total, 



83,649,640 47 
5,459,561 64 

$9,109,202 11 



132 



AMERICAN CENTRAL INSURANCE CO. 



Disbursements. 
Net amount paid policy holders for fire losses, 81, 684, 351. 02 

marine, $1,032.09, 

Expenses of adjustment and settlement of losses, 
Commissions or brokerage, .... 

Agency expenses, ...... 

Salaries and expenses of special and general agents, 
Salaries, fees, etc., of officers and employees, 
Rents, ....... 

Advertising, printing and stationery, 

Postage, telegrams, telephone, express and exchange, 

Legal expenses, ...... 

Furniture and fixtures, ..... 

Maps, including corrections, .... 

Underwriters' boards and tariff associations, 

Fire department, patrol and salvage corps fees and taxes, 

Inspections and surveys, 

State taxes on premiums, 

Insurance department licenses and fees, 

Other licenses, fees and taxes, 

Dividends to stockholders, 

Gross loss on sale of stocks and bonds, 

Borrowed money repaid, 

Interest on borrowed money, . 

Total disbursements, 

Balance, .... 

Ledger Assets. 
Mortgage loans on real estate, 
Loans secured by collateral (Schedule A), 
Book value of stocks and bonds (Schedule B), . 
Cash in office, ....... 

Cash in transit, ....... 

Deposits in trust companies and banks not on interest, 
Deposits in trust companies and banks on interest, 
Agents' balances, ....... 

Bills receivable, ....... 

Total ledger assets, ..... 

Non-Ledger Assets. 
Interest accrued on : — 
Mortgages, $433.70; bonds, $45,711.82; collateral loans, $875, 

Gross assets, ........ 



$1,685,383 

23,390 

614,623 

103,646 

184,002 

101,406 

15,346 

41,333 

27,495 

12,251 

4,807 

9,587 

33,102 

5,734 

20,999 

53.174 

23,714 

49,892 

240,000 

15,182 

175,000 

1,388 



11 
04 
73 
59 
97 
75 
79 
27 
55 
62 
23 
02 
98 
01 
04 
45 
91 
08 
00 
35 
00 
88 



$3,441,472 37 


$5,667,729 74 


$35,639 61 


297,885 62 


4,432,011 21 


11,805 47 


15,000 00 


148,828 01 


129,907 12 


596,223 58 


429 12 



$5,667,729 74 



47,020 52 
. $5,714,750 26 



Assets not admitted. 

Agents' balances over three months due, . . $11,056 48 

Book value of stocks and bonds over market value, 263,561 87 
Special deposits less $45,485.90 liability thereon, . 41,421 44 

Admitted assets,* ....... 



316,039 79 
$5,398,710 47 



* These assets include deposits in this country amounting to $68,600, which the company has made 
for the protection of certain policy holders. Liabilities of $102,700.49 have accrued against these deposits, 
which are included in the total liabilities of the company. 



AMERICAN CENTRAL INSURANCE CO. 



133 



Liabilities. 
Unpaid losses, including $14,800 resisted, $399,430.99; less rein 

surance, $104,360.43, . 
Unearned premiums on outstanding risks, 
Dividends declared and unpaid to stockholders, 
Salaries, expenses and accounts, due or accrued, 
Federal, state and other taxes, due or accrued, 



Total, 

Cash capital, .... 

Surplus over all liabilities, 
Surplus to policy holders, 

Total liabilities, including surplus, 



$2,000,000 00 
362,172 82 



$295,070 56 

2,702,049 32 

868 48 

3,549 29 

35,000 00 

$3,036,537 65 



2,362,172 82 
$5,398,710 47 



Fire risks in force Dec. 31, 1911, 
Fire risks written during the year, 

Total, . 
Expired and terminated, 

In force at end of year, . 
Deduct amount reinsured, 

Net amount in force, 



Marine risks written during the year, 
Expired and terminated, 

In force at end of year, . 



Risks and Premiums. 

Risks. Premiums. 

$503,202,042 00 $5,546,357 69 
405,344,478 00 4,719,757 75 



$903,546,520 00$10,266,115 44 
321,204,218 00 4,019,197 93 

$587,342,302 00 $6,246,917 51 
94,118,243 00 1,073,695 70 

$493,224,059 00 $5,173,221 81 

$5,896,317 00 $11,199 64 
5,829,181 00 8,986 35 



$67,136 00 $2,213 29 



Miscellaneous. 

Net premiums received from organization of company, 

Net losses paid from organization of company, 

Cash dividends declared from organization of company, 

Fire losses incurred during the year, 

Marine and inland losses incurred during the year, 

Dividends declared during the year (12 per cent.), 

Par value of company's stock owned by directors, 



$48,675,281 82 

26,290,145 26 

3,597,931 00 

1,762,907 90 

2,250 29 

240,000 00 

219,600 00 



Schedule A. Securities held as Collateral. 

Company's 
Market Value. 
$149,400 00 
. 78,000 00 
. 35,000 00 
. 119,250 00 
. 14,875 00 



996 shares Broadway Real Estate Co., St. Louis, 
500 " National Bank of Commerce, St. Louis, 
500 " Westinghouse Air Brake Co., Pittsburg, 
450 " Third National Bank, St. Louis, 
119 " Wagner Electric Mfg. Co., St. Louis, 



Loaned 
Thereon. 

$187,885 62 

100,000 00 
10,000 00 



$396,525 00 $297,885 62 



Schedule B. Stocks and Bonds owned by the Company. 



Railroad Stocks. 
400 shares Norfolk & Western, 
1,500 " Pennsylvania, 



Book Value. 

$45,825 00 

94,891 86 



Rate. 
113 
122 



Market Value. 

$45,200 00 

91,500 00 



134 



AMERICAN CENTRAL INSURANCE CO. 



Bank Stocks. 
100 shares Boatmen's, St. Louis, 
68 " Mechanics-Amer. Nat., St. Louis, 
100 " Mercantile Trust Co., St. Louis, 
3,505 " Nat. Bk. of Commerce, St. Louis, 
200 " St. Louis Union Trust Co., St. Louis 
250 " Third National, St. Louis, 
Miscellaneous Stocks. 
2 shares General Adjust. Bureau, N. Y., 
500 " Hargadine-McKittrick D. G. Co., St 
Louis, 1st pref., . 
57 " Laclede Gas Light Co., pref., St. L., 
11 " Laclede Gas Light Co., com., St. L., 
5 " St. Louis Coliseum Co., St. Louis, 

4 " So. Adjust. Bureau, Atlanta, Ga., 

5 " Underwriters' Salvage Co., Chic, 
300 " Union Sand & Mat. Co., St. Louis, 

1 share Western Adj. & Insp. Co., Chicago, 
State, County and Municipal Bonds. 
Bowie County, Tex., 4is, 1949, . 
Brandon, Manitoba, deb. 4 -<s, 1942, . 
Dona Ana County, N. M., 6s, 1925, . 
Enid, Oklahoma, 5s, 1934, 
Fort William, Ontario, 4£s, 1937, 
Fort Worth, Texas, 4s, 1941, 
Georgia 4^s, 1915, . 
Newberry, S. C, school 4£s, 1949, 
New York, N. Y., 4s, 1956, 
Peirce City, Mo., 5s, 1917, 
Portland, Ore., 4s, 1928, .... 
Richmond, Va„ 4s, 1940, .... 
Selkirk, Manitoba, 5s, 1945-59, 
Toronto, Ontario, deb. 4s, 1949, 
Winnipeg, Manitoba, 4s, 1928, . 
Railroad Bonds. 
Atch., Top. & Santa Fe adjustment 4s, 1995, 
Bait. & O. (P., Lake E. & W. Va.) 4s, 1941, 
Boston & Maine 4£s, 1929, 
Canadian Northern equip. 1st 4^8, 1917, 
Central of Georgia cons. 5s, 1945, 
Central Pacific 1st refunding 4s, 1949, 
Chesapeake & Ohio general 4^s, 1992, 
Chesa. & Ohio gen. fund, and imp. 5s, 1929, 
Chicago, Burl. & Quincy 4s, 1921, 
Chicago Rys. Co., series A, consol. 5s, 1927, 
Chicago Rys. Co. 1st 5s, 1927, . 
Chicago, Milwaukee & St. Paul deb. 4s, 1934, 
Chicago, Rock Is. & Pac. 1st ref. 4s, 1934, . 
Colorado & Southern ref. 4|s, 1935, . 
Columbia & St. Louis 1st 4s, 1942, 
East St. L. & Sub. Co., N. J., col. tr. 5s, 1932, 
Fort Worth & Denver City 1st 6s, 1921, 
Fort Worth & Rio Grande 1st 4s, 1928, 
Houston Belt & Terminal 1st 5s, 1937, 
Illinois Central 1st ref. 4s, 1955, 
Illinois Cent. (St. L. Div. & Term.) 3s, 1951, 
Kanawha & Michigan, 2d 5s, 1927, . 
Kansas City, Ft. Scott & Mem. ref. 4s, 1936, 
Kansas City Ry. & Lt. Co. 5s, 1913, . 
Kansas City Southern 1st 3s, 1950, . 
Lake Shore & Michigan Southern deb. 4s, 1928, 
Lake Shore & Michigan Southern deb. 4s, 1931, 
Little Rock & Hot Springs West, 1st 4s, 1939, 
Mississippi Riv. & Bonne Terre 1st 5s, 1931, 
Missouri, Kansas & Texas 1st ref. 4s, 2004, . 
Missouri Pacific 4s, 1945, .... 
New York Cent. Lines equipment 5s, 1914-15, 
Norfolk & West. Divisional 1st gen. 4s, 1944, 
Nor. Pac.-Gr. Nor. (C, B. & Q. col.) 4s, 1921, 
Oregon Short Line refunding 4s, 1929, 
Rock Island-Frisco Terminal 1st 5s, 1927, . 
St. Clair, Madison & St. Louis Belt 4s, 1951, 



Book Value. 


Rate. 


Market Value. 


811,800 00 


230 


$23, W0 00 


21,109 81 


281 


19,1' 


34,550 00 


347 


34,7' 


679,354 56 


156 


546,780 00 


3, 75,675 00 


494 


98,800 00 


76,250 00 


265 


66,250 00 


100 00 

• 


100 


100 00 


60,000 00 


80 


40,000 00 


3,282 00 


100 


5,700 00 


549 87 


104 


1,144 00 


500 00 


100 


500 00 


200 00 


100 


200 00 


500 00 


100 


500 00 


23,800 00 


80 


24,000 00 


125 00 


200 


200 00 


25,000 00 


98 


24,500 00 


23,082 50 


94 


23,500 00 


10,000 00 


100 


10,000 00 


25,625 00 


100 


25,000 00 


23,060 26 


95 


23,579 00 


8,775 00 


91 


8,190 00 


11,725 00 


101 


10,100 00 


10,375 00 


100 


10,000 00 


200,500 00 


94 


188,000 00 


13,000 00 


100 


13,000 00 


53,000 00 


96 


48,000 00 


50,625 00 


97 


48,500 00 


5,285 00 


94 


4,700 00 


24,893 00 


95 


25,428 34 


9,875 00 


97 


9,700 00 


45,937 50 


88 


44.000 00 


47,750 00 


89 


44,500 00 


52,375 00 


99 


49,500 00 


22,532 50 


98 


24.500 00 


55,687 50 


108 


54,000 00 


24,250 00 


95 


23,750 00 


53,343 75 


100 


50,000 00 


50,468 75 


100 


50,000 00 


12,870 00 


99 


12,870 00 


24,187 50 


94 


23,500 00 


25,187 50 


99 


24.750 00 


47,625 00 


91 


45,500 00 


22,625 00 


87 


21.750 00 


24,343 75 


94 


23,500 00 


28,000 00 


85 


27.200 00 


47,250 00 


94 


47,000 00 


57,556 25 


107 


53,500 00 


23,025 00 


77 


19,250 00 


50,000 00 


100 


50,000 00 


24,937 50 


96 


24.000 00 


8,800 00 


75 


7,500 00 


24,000 00 


99 


24.750 00 


86,625 00 


77 


00 00 


24,250 00 


90 


22,500 00 


17,875 00 


72 


18,000 00 


23,812 50 


92 


23,000 00 


22,156 25 


92 


23,000 00 


27,868 75 


83 


24,900 00 


29,700 00 


100 


30,000 00 


62,000 00 


78 


5S.500 00 


47,640 62 


70 


35,000 00 


73,500 00 


101 


75,750 00 


21,781 25 


93 


23.250 00 


48,437 50 


96 


48,000 00 


23.468 75 


92 


23,000 00 


50,500 00 


100 


50,000 00 


30,430 00 


78 


29,640 00 



THE AMERICAN DRUGGISTS FIRE INSURANCE CO. 



135 



St. L., Iron Mt. & So. unifying and ref. 4s, 1929, 

St. Louis, Iron Mt. & So. gen. cons. 5s, 1931, 

St. L., Iron Mt. & So. (R. G. Div.) 4s, 1933, 

St. Louis & San Francisco ref. 4s, 1951, 

St. Louis & San Francisco general 5s, 1927, 

St. Louis Southwestern 1st cons. 4s, 1932, . 

Southern Pacific 1st ref. 4s, 1955, 

Tennessee Central general 5s, 1954, 

Union Depot 1st 6s, 1918, 

Union Pacific convertible 4s, 1927, 

United Rys. 1st general 4s, 1934, 

Virginian 1st 5s, 1962, .... 

"Western Pacific 1st 5s, 1933, 

Western Maryland 1st 4s, 1952, 

Wachita Falls & Northw. 1st ref. 5s, 1940, . 

Miscellaneous Bonds. 
Commonwealth-Edison Co., Chic, 1st 5s, 1943, 
Cons. Gas, El. Lt. & P. Co., Bait., col. tr. 5s, 1913 
Cum. C. & C. Co., Jersey City, N. J., 6s, 1913, 
Cum. C. & C. Co., Jersey City, N. J., subscription 
Frisco Annex Realty Co. 1st 5s, 1928, 
International Steam Pump Co. 1st 5s, 1929, 
Kinloch Long Distance Tel. Co. 1st 5s, 1929, 
Laclede Gas Light Co. 1st 5s, 1919, 
Lincoln Real Estate & Building Co. 6s, 1923, 
Missouri El. Lt. & Power Co. 2d 6s, 1921, . 
Mortgage Bond Co. of New York 4s, 1966, 
Pacific Tel. & Tel. Co., 1st 5s, 1937, . 
People's Gas Lt. & Coke Co., Chicago, 5s, 1947, 
Railwav Exchange Bldg. Syndicate subscription, 
Southern Bell Telephone & Tel. Co. 1st 5s, 1941, 
Underwriters Building Co., New York, 5s, 1928, 
Wright Building Co., St. Louis, 5s, 1931, . 



Book Value. 


Rate. 


Market Value. 


$69,187 50 


82 


$61,500 00 


26,875 


00 


105 


26,250 00 


43,500 


00 


83 


41,500 00 


62,037 


65 


75 


50,250 00 


44,750 


00 


82 


41,000 00 


39,905 


92 


80 


40,000 00 


47,531 


25 


93 


46,500 00 


123,093 


87 


50 


116,500 00 


109,937 


50 


105 


105,000 00 


22,437 


50 


97 


24,250 00 


43,873 


90 


74 


37,000 00 


49,500 


00 


99 


49,500 00 


24,468 


75 


84 


21,000 00 


21,750 


00 


84 


21,000 00 


24,250 


00 


98 


24,500 00 


25,875 


00 


102 


25,500 00 


J, 18,477 


50 


100 


19,000 00 


18,000 


00 


80 


16,000 00 


t, 6,000 


00 


— 


- 


55,000 


00 


100 


55,000 00 


23,312 


50 


89 


22,250 00 


47,285 


00 


91 


44,590 00 


70,137 45 


102 


76,500 00 


79,146 


69 


101 


75,750 00 


98,640 


00 


109 


95,920 00 


22,437 


50 


87 


21,750 00 


47,968 


75 


100 


50,000 00 


25,875 


00 


101 


25,250 00 


10,000 


00 


97 


9,700 00 


49,500 


00 


99 


49,500 00 


25,000 


00 


100 


25,000 00 


70,125 


00 


99 


74,250 00 


$4,432,011 21 


$4,168,449 34 



THE AMERICAN DRUGGISTS' FIRE INSURANCE COMPANY, 

CINCINNATI, O. 

Incorporated February, 1906. Commenced business Jan. 15, 1907. 

Cash Capital, $200,000. 

CHARLES H. AVERY, President. FRANK H. FREERICKS, Secretary. 

Home Office, 1215 Mercantile Library Building. 

Income. 

Net fire premiums, $93,463 50 

Gross interest on bonds, $12,106.68; bank deposits, $319.85, . 12,426 53 

Gross increase in book value of bonds, ..... 49 90 

From all other sources, . . . . . . . . 15 62 



Total income, ..... 

Ledger assets, Dec. 31, 1911, .... 

Total, 

Disbursements. 
Net amount paid policy holders for fire losses, . 
Expenses of adjustment and settlement of losses, 
Commissions or brokerage, .... 
Salaries and expenses of special and general agents, 
} Salaries, fees, etc., of officers and employees, 
Rents, . . . . . . 



$105,955 55 
319,635 49 

$425,591 04 



$41,027 43 

1,236 34 

11,365 06 

1,514 90 

10,657 70 

480 00 



136 



THE AMERICAN DRUGGISTS FIRE INSURANCE CO. 



Advertising, printing and stationery, 

Postage, telegrams, telephone and express, 

Legal expenses, ....... 

Fire department, patrol and salvage corps fees and taxes, 
Inspections and surveys, ..... 

State taxes on premiums, ..... 

Insurance department licenses and fees, . 

Other licenses, fees and taxes, .... 

Dividends to stockholders, ..... 

Gross decrease in book value of ledger assets, 

All other disbursements, ..... 

Total disbursements, ..... 

Balance, ....... 



Ledger Assets. 
Book value of bonds (Schedule A), . 
Cash in office, ...... 

Deposits in trust companies and banks on interest, 
Agents' balances, ...... 

Furniture and fixtures, ..... 

Due from authorized company, 



Total ledger assets, 



$3,047 13 


1,154 27 


25 00 


20 


302 50 


2,22 


1,622 05 


615 32 


18,000 00 


1,023 61 


911 73 


0,012 78 


$329,578 26 


'0,848 73 


7 13 


13,807 59 


13,63s - 


602 37 


4 12 


8329,578 26 



Xox-Ledger Assets. 
Interest accrued on : — 
Bonds, $4,544.75; other assets, $69.78, . 

Gross assets, ....... 

Assets xot admitted. 
Furniture and fixtures, ...... 

Book value of bonds over market value, . 

Admitted assets,* ...... 

Liabilities. 

Unpaid losses, $9,064.51; less reinsurance, §2,029.43, 
Unearned premiums on outstanding risks, 
Salaries, expenses and accounts, due or accrued, 
Federal, state and other taxes, due or accrued, 
Commissions and other charges due agents and brokers, 



S602 37 
287 28 



Total, 

Cash capital, 

Surplus over all liabilities, 

Surplus to policy holders, 

Total liabilities, including surplus, 



$200,000 00 
73,570 98 



4,614 53 



$334,192 79 



889 65 



$333,303 14 



$7,035 08 

-.461 97 

633 48 

1,926 52 

1,675 11 

732 16 



273,570 98 
$333,303 14 



* These assets include deposits in this country amounting to $21,200, which the company has made 
for the protection of certain policy holders. Liabilities of $1,183.21 have accrued against these deposits, 
which are included in the total liabilities of the company. The excess of these deposits over corresponding 
liabilities is $20,016.79, which is included in the surplus and is subject to a lien under the conditions of the 
special deposit, which, in certain contingencies, would, it should be noted, remove said excess from the 
funds available to pay the claims of general policy holders. 



THE AMERICAN DRUGGISTS FIRE INSURANCE CO. 



137 



Risks and Premiums. 



Fire risks in force Dec. 31, 1911, 
Fire risks written during the year, 

Total, 
Expired and terminated, 

In force at end of year, . 
Deduct amount reinsured, 



Net amount in force, 



Risks. 

$7,933,966 00 
10,089,350 00 

$18,023,316 00 
8,038,201 00 

$9,985,115 00 
551,688 00 



Premiums. 

$83,367 79 
103,024 09 

$186,391 88 
83,633 26 

$102,758 62 
6,269 45 



1,433,427 00 $96,489 17 



Miscellaneous. 



Net premiums received from organization of company, 

Net losses paid from organization of company, 

Cash dividends declared from organization of company, 

Fire losses incurred during the year, 

Dividends declared during the year (9 per cent.), 

Par value of company's stock owned by directors, 

Schedule A. Bonds owned by the Company 



Government Bonds. 
United States 3s, 1918, 

County and Municipal Bonds 
Cambridge, O., 4£s, 1918, . 
Cambridge, O., 4|s, 1919, . 
Chardon, O., 4§s, 1925, . 
Chardon, O., 4£s, 1926-31, 
Cincinnati, O., 4s, 1932, 
Cleveland, O., 4s, 1918-20, 
Cleveland, O., 4s, 1924-25, 
Cleveland, O., 4Js, 1930, . 
Cleveland, O., 5s, 1922, . 
Columbus, O., school 3§s, 1921, 
Columbus, O., 4s, 1916, 
Conneaut, O., 4£s, 1914-15, 
Conneaut, O., 4|s, 1916, . 
Conneaut, O., 4|s, 1917-18, 
Cuyahoga County, O., 4^s, 1913 
Cuyahoga County, O., 4§s, 1914 
Cuyahoga County, O., 4|s, 1918 
Cuyahoga Falls, O., 5s, 1915, 
Cuyahoga Falls, O., 5s, 1916. 
Cuyahoga Falls, O., 5s, 1917-18 
Cuyahoga Falls, O., 5s, 1919, 
Cuyahoga Falls, O., 5s, 1920-21 
Cuyahoga Falls, O., 5s, 1922-23 
Cuyahoga Falls, O., 5s, 1924-25 
Cuyahoga Falls, C\, 5s, 1926, 
Evanston, O., 6s, 1918, 
Evanston, O., 6s, 1920, 
Evanston, O., 6s, 1922, 
Evanston, O., 6s, 1924, 
Hamilton, O., 4s, 1926, 
Licking County, O., 4|s, 1915, 
Lorain, O., 4|s, 1913, 
Madisonville, O., 5s, 1924, 
Mahoning County, O., 4£s, 1913 
Manchester, C\, 5s, 1931-33, 
Manchester, O., 5s, 1934-37, 
Manchester, O., 5s, 1938, . 
Middletown, O., 4|s, 1915, 
Middletown, O., 4£s, 1916, 
Middletown, O , 4|s, 1917-18, 
Middletown, O., 4 is, 1919-21, 
Middletown, O., 4|s, 1922, 



Book Value. 
$10,122 21 

11,127 26 

6,288 84 

2,993 17 
1,997 97 
15,169 30 
10,271 96 
10,830 49 
29,750 00 
2,000 00 

20,234 44 
28,291 77 



6,326 24 { 



2,233 88 ' 

10,232 40 
3,544 55 
2,007 16 
2,713 40 
1,000 00 

4,536 37 



10,192 24 



Rate. 
103 

102 
103 
102 
103 
100 
101 
102 
105 
109 
98 
101 
101 
102 
103 
100 
101 
103 
102 
103 
104 
105 
106 
107 
108 
109 
109 
112 
115 
117 
101 
101 
100 
110 
100 
110 
111 
112 
101 
102 
103 
104 
105 



$344,475 99 
103,053 34 
46,000 00 
46,558 39 
18,000 00 
19,175 00 



Market Value. 
S10.300 00 

5,518 36 
5,572 46 

510 00 

5,665 00 

3,000 00 

2,020 00 

15,300 00 

10,500 00 

10,900 00 

29,400 

2,020 

8,080 

4,080 

8,240 

10,500 00 

9.595 00 

8,240 

510 

515 
1,040 

525 
1,060 
1,070 
1,080 

545 

545 

560 

575 

585 
10,100 
3,535 
2,000 00 
2,750 00 
1,000 00 
1,650 00 
2,220 00 

560 00 
1.010 00 
1,020 00 
2,060 00 
4,160 00 
2,100 00 



00 
00 
00 
00 
00 



00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 



138 



UNDERWRITERS AT AMERICAN LLOYDS. 



Newark, O., 4*s, 1913, 

Newark, O., 4£s, 1914-15, 

Newark, O., 4*s. 1916-17, 

Newark, O., 4£s, 1918-19, 

Newark, O., 4|s, 1920-22, 

Newark, O., 5s, 1913, 

Newark, O., 5s, 1914, 

Newark, O., 5s, 1915, 

Newark, O., 4£s, 1929-30, 

Norwood, O., Hazel Ave., imp. 4§s, 1913, 

Norwood, O., Feldman Ave., imp. 4$s, 1913, 

Norwood, O., Feldman Ave., imp. 43s, 1914-15, 

Norwood, O., Feldman Ave., imp. 4£s, 1916, 

Norwood, O., Feldman Ave., imp. 4§s, 1917-18, 

Norwood, O., 5s, 1914, 

Norwood, O., 4£s, 1925, . 

Piqua, O., 3£s, 1925, 

Richwood, O., 4§s, 1921-22, 

St. Mary's, O., 4s, 1936, . 

Scio, O., 4£s, 1921-25, 

Scio, O., 4|s, 1926-28, 

Tiffin, O., 4s, 1916, . 

Vermillion, O., 5s, 1918-19, 

Vermillion, O., 5s, 1921-22, 

Vermillion, O., 5s, 1923, . 

Wapakoneta, O., 5s, 1913, 

Wauseon, O., 4K 1914, . 

Wauseon, O., 4£s, 1916, . 

Wellington, O., 5s, 1923, . 

West Milton, O., 4£s, 1940-41, 

West Milton, O., 4§s, 1942, 



Book Value. 
$10,182 48 

3,039 72 

5,307 17 v 

485 85 

3,393 08 

3,544 17 

523 96 

20,762 47 

5,145 96 

3,038 57 

7,870 60 J 

25,149 46 



9,460 30 

501 14 
4,049 36 { 
1,088 39 
5,442 10 



Rate. 
100 
101 
102 
103 
104 
100 
101 
102 
107 
100 
100 
101 
102 
103 
102 
106 
96 
104 
102 
102 
103 
100 
105 
107 
108 
100 
101 
102 
109 
108 
109 



Market Value. 
$1,0 
2,020 00 
2,040 00 
2,06 
3,1- 
1,000 
1,010 
1,020 
5,350 

485 

558 
1,127 

569 
1,149 
3,570 

530 
20,160 
5,200 
3,060 
4,080 
3,605 
25,000 00 
4,200 00 
4,280 00 
1,0S 

500 
2,020 
2,040 
1,090 
3,240 
2,180 



00 
00 
00 
00 
00 

15 
46 
31 
86 
00 
00 
00 
00 
00 
00 
00 



00 
00 
00 
00 

00 

00 
00 



$300,848 73 



$300,561 45 



UNDERWRITERS AT AMERICAN LLOYDS, NEW YORK, N. Y. 

Commenced business April 30, 1890. 
HALL & TROWBRIDGE, Attorneys. 

Home Office, 123 William Street. 

Income. 
Net fire premiums, ...... 

Gross interest on collaterals, $191.66; bonds, $34,452.39; bank 

deposits, $627.21, 

Gross profit on sale of bonds, ..... 

Borrowed money, ....... 

Deposits of new subscribers, ..... 

Total income, ...... 

Ledger assets, Dec. 31, 1911, ..... 



Total, 



$266,582 42 

35,271 26 

19,502 50 

15,000 00 

8,000 00 

$344,356 18 
998,076 05 

$1,342,432 23 



Disbursements. 



Net amount paid policy holders for fire losses, . 
Expenses of adjustment and settlement of losses, 
Commissions or brokerage, 
Salaries, fees, etc., of officers and employees, 
Advertising, ...... 

Legal expenses, ..... 

Underwriters' boards and tariff associations, 

Fire department, patrol and salvage corps fees and taxes, 

Inspections and surveys, ..... 



$120,251 79 

2,326 01 

89,381 65 

5.295 00 

122 03 

306 55 

1,471 46 

2.060 33 

21 55 



UNDERWRITERS AT AMERICAN LLOYDS. 



139 



State taxes on premiums, .... 

Insurance department licenses and fees, . 

Other licenses, fees and taxes, 

Dividends to subscribers, .... 

Gross loss on sale of bonds, .... 

Borrowed money repaid, 

Interest on borrowed money, .... 

Paid retiring subscribers, .... 

All other disbursements, ..... 

Total disbursements, .... 

Balance, ...... 

Ledger Assets. 

Book value of bonds (Schedule A), . 

Deposits in trust companies and banks on interest, 

Agents' balances, ...... 



Non-Ledger Assets. 



Total ledger assets, 

Interest accrued on bonds, 

Gross assets, ...... 

Assets not admitted. 

Agents' balances over three months due, . 
Book value of bonds over market value, . 
Special deposits less $15,704.59 liability thereon, 



$1,391 
21,902 
60,050 



Admitted assets, ....... 

Liabilities. 

Unpaid losses, $5,230.72; less reinsurance, $1,505, 

Unearned premiums on outstanding risks, 

Federal, state and other taxes, due or accrued, 

Due for return premiums, $3,516.25; reinsurance, $4,087.42, 



Total, . 
Subscribers' deposits, 
Surplus over all liabilities, 
Surplus to policy holders, 



Total liabilities, including surplus, 

Risks and Premiums. 



$108,000 

577,282 



Fire risks in force Dec. 31, 1911, 
Fire risks written during the year, 

Total, .... 
Expired and terminated, 

In force at end of year, . 
Deduct amount reinsured, 

Net amount in force, 



Risks. 

$49,698,111 
57,950,237 



$2,439 13 
497 94 
654 63 

54,623 05 
902 50 

15,000 00 

373 12 

105,661 38 

885 23 

$402,273 35 

$940,158 88 



$863,967 19 
38,762 82 
37,428 87 

$940,158 88 



8,029 67 
$948,188 55 



83,343 63 

$864,844 92 



$3,725 72 

165,233 06 

3,000 00 

7,603 67 

$179,562 45 



685,282 47 
$864,844 92 



Premiums. 

00 $292,363 82 
00 335,719 64 



03 
19 
41 



00 

47 



$107,648,348 
56,300,765 



00 $628,083 46 
00 319,088 23 



$51,347,583 
1,510,294 



00 $308,995 23 
00 9,352 49 



$49,837,289 00 $299,642 74 






140 



AMERICAN MUTUAL FIRE INSURANCE CO. 



Miscellaneous. 
Net premiums received from organization of company, 
Net losses paid from organization of company, 
Cash dividends declared from organization of company, 
Fire losses incurred during the year, 
Dividends declared during the year, 



$6,299,732 63 

1,739,788 80 

798,050 24 

100,647 83 

54,623 05 



Schedule A. Bonds owned by the Company. 

Book Value. Rate. 

$43,690 00 88 

48,960 00 98 

31,500 00 94 

26,250 00 101 

76,900 00 91 

50,865 00 87 

29,680 00 85 

351,607 57 105 

21,982 12 95 



State, County and Municipal Bonds 
Brooklyn, N. Y., 3 is, 1937, 
Essex County, N. J., 4s, 1938, 
Massachusetts 3|s, 1935, . 
New York 4s, 1960, . 
New York, N. Y., 3s, 1920, 
New York, N. Y., 3s, 1925, 
New York, N. Y., 3§s, 1954, 
New York, N. Y., 4 is, 1957, 
Toronto, Ontario, 4s, 1948, 

Railroad Bonds 
Atch., Top. & Santa Fe general 4s, 1995, 
Baltimore & Ohio 1st 4s, 1948, 
Chicago <fe Northwestern general 4s, 1987, 
Cleve., Cin., Chic. & St. Louis gen. 4s, 1993, 
N. Y. Central & Hud. Riv. notes, 4is, 1915, 
Pitts., Cin., Chicago & St. Louis 4s, 1945, . 

Miscellaneous Bonds. 
Westinghouse Elec. & Mfg. Co. 6s, 1913, . 



24,920 00 
24,625 00 
24,750 00 
23,930 00 
49,562 50 
24,745 00 

10,000 00 
$863,967 19 



97 
97 
98 
92 
100 
97 

100 



Market Value. 

$44,000 00 
49,000 00 
28,200 00 
25,250 00 
80,990 00 
53,070 00 
29,750 00 

330,750 00 
20,805 00 

24,250 00 
24,250 00 
24,500 00 
23,000 00 
50,000 00 
24,250 00 

10,000 00 
$842,065 00 



AMERICAN MUTUAL FIRE INSURANCE COMPANY, 
PROVIDENCE, R. I. 

Incorporated June 1, 1877. Commenced business June 1, 1877. 
JOHN R. FREEMAN, President. THEODORE P. BOGERT, Secretary. 

Office, 10 Weybosset Street. 

Income. 
Net premiums, ......... 8279,550 65 



Gross interest on stocks and bonds, $29,560.45; bank deposits, 

$726.26; all other, $8.07, 

Gross profit on sale of stocks, ....... 

Sale of rights, ......... 

Total income, ........ 

Ledger assets, Dec. 31, 1911, ....... 

Total, 

Disbursements. 

Net amount paid policy holders for losses, 
Salaries, fees, etc., of officers and employees, 
Rents, ....... 

Advertising, printing and stationery, 
Postage, telegrams, telephone and express, 
Legal expenses, ...... 

Furniture and fixtures, ..... 

Fire department, patrol and salvage corps fees and taxes, 



30,294 78 

150 00 

73 56 

S310.06S 99 
626,038 64 



$936,107 


63 


.027 


37 


6,659 85 


613 


19 


550 


14 


321 


91 


711 


19 


251 


65 


17 


60 



AMEKICAN MUTUAL FIRE INSURANCE CO. 



141 



Inspection department, for inspections, maps, plans and adjust- 
ment of losses, ......... 

State taxes on premiums, ....... 

Insurance department licenses and fees, ..... 

Other licenses, fees and taxes, ...... 

Dividends to policy holders, ....... 

Gross decrease in book value of stocks, ..... 

All other disbursements, ....... 

Total disbursements, ....... 

Balance, ......... 

Ledger Assets. 

Book value of stocks and bonds (Schedule A), . 
Deposits in trust companies and ba*nks on interest, . 
Premiums in course of collection, ...... 



Non-Ledger Assets. 



Total ledger assets, 

Interest accrued on bonds, 
Gross assets, . 

Assets not admitted. 
Book value of stocks and bonds over market value, 

Admitted assets, . . 

Liabilities. 
Unpaid losses, ...... 

Unearned premiums on outstanding risks, 
Salaries, expenses and accounts, due or accrued, 
Federal, state and other taxes, due or accrued, . 

Total, 

Surplus to policy holders, .... 

Total liabilities, including surplus, . 

Risks and Premiums. 

Risks. 

In force Dec. 31, 1911, . . $74,414,806 00 



Written during the year, 

Total, . 
Expired and terminated, 

In force at end of year, . 



38,629,803 00 

$113,044,609 00 
33,627,378 00 



Cash Prem's. 

$567,647 19 
299,303 74 

$866,950 93 
263,957 49 



$11,843 60 

3,990 93 

422 53 

14,315 72 

227,568 96 

73 56 

260 18 

$296,528 38 

$639,579 25 



$615,748 72 
11,710 78 
12,119 75 

$639,579 25 

738 83 
$640,318 08 

2,387 72 
$637,930 36 



$2,490 61 

299,646 59 

120 48 

2,434 16 

$304,691 84 
333,238 52 

$637,930 36 



Conting't Prem's. 

$2,838,235 95 
1,496,518 70 

$4,334,754 65 
1,319,787 45 



$79,417,231 00 $602,993 44 $3,014,967 20 



Miscellaneous. 
Net premiums received from organization of company, 
Net losses paid from organization of company, 
Cash dividends paid policy holders from organization of company, 
Losses incurred during the year, ...... 

Dividends to policy holders during 1912, 93, 89 and 85 per cent. 



$7,012,823 62 

1,174,345 52 

5,230,074 64 

30,663 26 



142 



ASSURANCE COMPANY OF AMERICA. 



Schedule A. Stocks and Bonds owned by the Company. 



Railroad Stocks. 
Atch., Top. & Santa F6, preferred, 
Chicago Great Western, preferred, 
Chicago, Milwaukee & St. P., com., 
Chicago, Milwaukee & St. P., pref., 
Chicago, St. Paul, Minn. & Omaha, 
Chicago & Northwestern, . 
Cleve., Cin., Ch. & St. L., pref., 
Cleveland & Pittsburg, 
Great Northern, preferred, 
Great Northern, 
Illinois Central, 
Illinois Central, leased lines, 
Manhattan, 

Minn., St. Paul & S. Ste. M., com., 
Minn., St. Paul & S. Ste. M., pref., 
Morris & Essex, 

N. Y., New Haven & Hartford, . 
Northern Pacific, 
Old Colony, .... 
Pennsylvania, .... 
Pitts., Bess. & Lake Erie, preferred, 
Southern Pacific, 
Southern, preferred, . 
Union Pacific, common, 
Union Pacific, preferred, 
West End Street, 



100 shares 
220 " 

53 " 
161 " 
100 " 
125 " 
100 " 
100 " 
200 " 
200 rights 

69 shares 

40 
200 
144 
238 
130 
180 
160 
150 
690 
200 
200 
100 
200 
400 
130 

Miscellaneous Stocks. 
500 shares American Tel. & Tel. Co., . 
50 " Providence Gas Co., . 
100 " United States Steel Corp., pref. 

Government Bonds. 
United States 4s, 1925, 

State Bonds. 
Rhode Island 3|s, 1959, . 

Railroad Bonds. 
Denver City Tramwav Co. 5s, 1919, . 
N. Y., N. H. & Hartfbrd deb. 6s, 1948, 
Southern Pacific Co. conv. 4s, 1929, . 



Book Value. 

$10,000 00 

17,600 00 

4,981 78 

23,944 66 

13,000 00 

17,800 00 

10,000 00 

9,000 00 

25,000 00 

8,000 00 
4,000 00 
27,500 00 
15,595 20 
32,796 40 
11,000 00 
25,627 18 
18,250 00 
27,000 00 
34,529 65 
15,000 00 
22,300 00 
10,000 00 
30,700 00 
38,575 00 
11,000 00 

69,370 00 

4,750 00 

11,012 50 

22,725 00 

29,625 00 

8,000 00 
4,200 00 
2,866 35 

$615,748 72 



Rate. 
102 

31 
113 
140 
130 
138 

95 

168 

130 

2 

127 

92 
131 
138 
149 
175 
128 
121 
177 
122 
130 
108 

80 
164 

92 
162 

141 
212 
110 

114 

95 

100 

125 

93 



00 
00 

00 
00 



Market Value. 
$10,200 00 

6,820 

5,989 
22,540 
13,000 
17,250 00 

9,500 00 

8,400 00 

26,000 00 

400 00 

8,763 00 

3,680 00 
26,200 00 
19,872 00 
35,462 00 
11,375 00 
23,040 00 
19,360 00 
26,550 00 
42,090 00 
13,000 00 
21,600 00 

8,000 00 
32,800 00 
36,800 00 
10,530 00 

70,500 00 

5,300 00 

11,000 00 

22,800 00 

28,500 00 

8,000 00 
5.250 00 
2,790 00 

$613,361 00 



ASSURANCE COMPANY OF AMERICA, NEW YORK, N. Y. 

Incorporated Feb. 25, 1897. Commenced business April 1, 1897. 

Paid-up Capital, $200,000. 

R. BLEECKER RATHBONE, President. CHARLES S. OONKLIN, Secretary. 

Home Office, 80 Maiden Lane. 

Income. 

Net fire premiums, ....... 

Gross interest on bonds, $13,518.77; bank deposits, $1,468.82, 



Total income, 
Ledger assets, Dec. 31, 1911, . 



$156,913 41 
14,9S7 59 

$171,901 00 
503,663 08 



Total, . 



$675,564 OS 



ASSURANCE COMPANY OF AMERICA. 



143 



Disbursements. 
Net amount paid policy holders for fire losses, . 
Expenses of adjustment and settlement of losses, 
Commissions or brokerage, ..... 

Salaries, fees, etc., of officers and employees, 

Rents, ........ 

Advertising, printing and stationery, 
Postage, telegrams, telephone and express, 
Furniture and fixtures, . . . . . • 

Maps, including corrections, ..... 

Underwriters' boards and tariff associations, 

Fire department, patrol and salvage corps fees and taxes, 

Inspections and surveys, ..... 

State taxes on premiums, ..... 

Insurance department licenses and fees, . 

Other licenses, fees and taxes, .... 

Dividends to stockholders, ..... 

Gross loss on sale or maturity of bonds, . 

All other disbursements, ..... 

Total disbursements, ..... 

Balance, ....... 

Ledger Assets. 

Book value of bonds (Schedule A), . 

Deposits in trust companies and banks on interest, . 

Agents' balances, ......... 

Total ledger assets, ....... 

Non-Ledger Assets. 
Interest due and accrued on bonds, . 

Gross assets, ......... 

Assets not admitted. 
Book value of bonds over market value, . 

Admitted assets, ........ 

Liabilities. 
Unpaid losses, including $5,486 resisted, $15,027; less reiisur- 

ance, $3,480, 

Unearned premiums on outstanding risks, 
Salaries, expenses and accounts, due or accrued, 
Federal, state and other taxes, due or accrued, 
Commissions and other charges due agents and brokers, 



Total, . 
Cash capital, 

Surplus over all liabilities, 
Surplus to policy holders, 



$200,000 00 
173,487 81 



$64,870 47 

562 80 

41,307 13 

7,712 67 

873 14 

535 66 

331 18 

18 00 

152 55 

1,121 82 

1,485 81 

114 51 

1,843 20 

355 69 

128 29 

10,000 00 

126 74 

556 66 

$132,096 32 

$543,467 76 



$464,765 54 
49,762 83 
28,939 39 

$543,467 76 



3,830 00 
$547,297 76 

61,515 54 

$485,782 22 



$11,547 00 

95,749 57 

385 96 

3,500 00 

1,111 88 

$112,294 41 



373,487 81 



Total liabilities, including surplus, 



$485,782 22 



144 



ATLANTIC MUTUAL INSURANCE CO. 



Fire risks in force Dec. 31, 1911, 
Fire risks written during the year, 

Total, .... 
Expired and terminated, 

In force at end of year, . 
Deduct amount reinsured, 

Xet amount in force, 



Risks and Premiums. 

Risks. Premiums. 

$21,864,113 00 S190,982 09 



28,064,404 00 209,750 37 



$49,928,517 00 $400,732 46 

26,186,637 00 202,593.43 

$23,741,880 00 $198,139 03 

1,584,155 00 16,109 90 

. $22,157,725 00 $182,029 13 



Miscellaneous. 
Net premiums received from organization of company, 
Net losses paid from organization of company, 
Cash dividends declared from organization of company, 
Fire losses incurred during the year, ... 

Dividends declared during the year (5 per cent.), 
Par value of company's stock owned by directors, 



Schedule A. Boxds owned by the Company. 



$6,483,228 08 

4,414,106 52 

295,456 47 

65,877 47 

10,000 00 

103,850 00 



Municipal Bonds. 
New York, N. Y., 3£s, 1920, 
New York, N. Y., 3s, 1925, 
New York, N. Y., 3£s, 1927-28, 
New York, N. Y., 3£s, 1940, 
New York, N. Y., 3§s, 1916, 
New York, N. Y., 4s, 1916, 
Rochester, N. Y., 4.90s, 1913, 

Railroad Bonds. 
Chic. & Alton 3s, 1949, 
New York Rys. 4s, 1942, . 
New York Rys. 5s, 1942, . 
St. Louis, Iron Mt. & Southern 4s, 1929, 
Scioto Valley & New England 4s, 1989, 



Book Value. 

$23,872 47 

101,250 00 

135,837 50 

55,437 50 

24,331 54 

24,876 69 

25,064 84 

16,182 50 
4,000 00 
14,450 00 
19,162 50 
20,300 00 

8464,765 54 



Rate. 
95 
87 
91 
-7 
97 
99 

100 

67 

78 
57 

95 



Market Value. 

$23,750 00 

87,000 00 

113,750 00 

43,500 00 

24,250 00 

24.750 00 

25,000 00 

13,400 00 

3,900 00 

00 00 

10.400 00 

19,000 00 

.250 00 



ATLANTIC MUTUAL INSURANCE COMPANY, NEW YORK. N. Y 

Incorporated April 11, 1842. Commenced business July 1, 1842. 
A. A. RAVEN, President. G. STAXTOX FLOYD-JOXES, Secretary. 

Home Office, 51 Wall Street. 

Ixcome. 

Net marine premiums, ........ 

Gross interest on stocks and bonds, $302,088.79; bank deposits, 

836,511.37; all other, $6,275.97; gross rents, including $50,000 

for company's own occupancy, $354,819.13, . 
Gross profit on maturity of bonds, . 
Gross increase in book value of stocks, 
Scrip returned to company, .... 
Premiums collected by foreign bankers, . 



$3,240,369 69 


699,695 26 
S4 96 
"5 00 
30 00 
40 53 



ATLANTIC MUTUAL IXSURANXE CO. 



145 



Premiums previously charged off, 
From all other sources, . 

Total income, 
Ledger assets, Dec. 31, 1911, . 



$48 67 
2,597 27 



Total, 



Disbursements. 



Net amount paid policy holders for marine losses, 
Commissions or brokerage, .... 

Salaries, fees, etc., of officers and employees, 

Rents, including $50,000 for company's own occupancy 

Advertising, printing and stationery, 

Postage, telegrams, telephone and express, 

Legal expenses, ...... 

Furniture and fixtures, ..... 

Underwriters' boards and tariff associations, 
Inspections and surveys, .... 

Repairs and expenses on real estate, 

Taxes on real estate, ..... 

State taxes on premiums, .... 

Insurance department licenses and fees, . 

Other licenses, fees and taxes, 

Premiums charged off, ..... 

Gross loss on maturity of bonds, 

Discount on premiums, ..... 

Scrip redeemed, ...... 

Interest to scripholders, .... 

All other disbursements, ..... 

Total disbursements, .... 

Balance, . . 

Ledger Assets. 
Book value of real estate, .... 

Book value of stocks and bonds (Schedule A), . 
Deposits in trust companies and banks on interest, 
Bills receivable, ...... 

Company's scrip owned, .... 

Deposits with foreign bankers, 



Total ledger assets, .... 

Non-Ledger Assets. 
Interest accrued on bonds, .... 
Rents due and accrued on company's property, 
Market value of real estate over book value, 
Market value of stocks and bonds over book value, 

Gross assets, ...... 

Assets not admitted. 
Company's scrip owned, .... 

Bills, receivable, past due, taken for premiums, 

Admitted assets, ..... 



$3,943,741 38 
13,882,810 36 



• 


.$17,826,55174 


. $1,362,840 93 




127,330 07 




329,524 95 


cy, • 


50,307 50 




18,182 30 




2,322 46 




6,508 01 




834 24 




6,722 17 




1,846 32 




101,948 75 




71,883 10 




34,583 60 




50 00 




12,422 17 




1,101 79 




220 70 




12,561 78 




1,175,760 00 




445,087 60 




31,871 42 




$3,793,909 86 


$14,032,641 88 


. $4,374,426 04 




6,249,529 43 




1,894,882 29 




1,212,352 92 




2,810 00 




298,641 20 


• 


$14,032,641 88 


40,804 99 


26,696 99 


. 514,273 96 


■ 


1,293,539 81 


$15,907,957 63 


. $2,810 00 


. 4,283 07 


7,093 07 


$15,900,864 56 



146 



ATLANTIC MUTUAL INSURANCE CO. 



Liabilities. 

Unpaid losses, $2,174,058; less reinsurance, $213,799 

Unearned premiums on outstanding risks, 

Scrip ordered to be redeemed, 

Interest due or accrued, .... 

Salaries, expenses and accounts, due or accrued, 

Federal, state and other taxes, due or accrued, 

Commissions and other charges due agents and brokers, 

Due for return premiums, $104,322.76; reinsurance, $203,735,55 

Scrip withheld, ........ 

Scrip outstanding, ....... 

Surplus on redemption of scrip withheld, .... 

Total, 

Surplus to policy holders, ...... 

Total liabilities, including surplus, .... 

Risks and Premiums. 



$1,960,259 00 

727,428 51 

212,201 48 

50,722 57 

7,925 48 

110,025 19 

74,772 61 

308,058 31 

3,090 00 

7,290,130 00 

22,556 09 

$10,767,169 24 
5,133,695 32 

$15,900,864 56 



Marine risks in force Dec. 31, 1911, 
Marine risks written during the year, 

Total, . 
Expired and terminated, 

In force at end of year, . 
Deduct amount reinsured, 

Net amount in force, 



Risks. Premiums. 

$145,916,156 00 $753,427 33 
822,069,950 00 4,069,457 66 



$967,986,106 00 $4,822,884 99 
829,211,275 00 4,055,834 05 



$138,774,831 00 
6,560,902 00 



$767,050 94 

39,622 43 



$132,213,929 00 $727,428 51 



Miscellaneous. 

Xet premiums received from organization of company, 
Xet losses paid from organization of company, 
Scrip dividends declared from organization of company, 
Marine losses incurred during the year, . 
Dividends declared during the year, 



$249,388,081 88 
139,630,074 43 
. 88,606,870 00 
. 2,499,889 35 
. 1,062,710 00 



Schedule A. Stocks and Bonds owned by the Company. 



1,600 
700 

2,070 
250 
350 
350 
363 
400 

2,000 
500 
320 

6,600 

900 
5 - 
360 
942 
333 
850 
1,403 



Railroad Slocks. 
shares Chicago & Northwestern, 

" Delaware & Hudson, 

" Delaware, Lacka. & Western, . 

44 Great Northern Iron Ore prop., 

" Great Northern, preferred, 
rights Great Northern, 
shares Lackawanna of New Jersey, 

44 Morris & Essex, 

44 N. Y. Central & Hudson River, 

44 N. Y., Lackawanna & Western, 
Northern Pacific, 

44 Pennsylvania. 

Bank Stocks. 
shares Arner. Exchange Nat., N. Y., . 

44 Bank of America, N. Y., 

44 Bk. of the Manhattan Co., N. Y., 

44 Bank of New York, 

44 Market & Fulton Nat., N. Y., 
Mechanics & Metals Nat.. N. Y., 

44 Merchants National., N. Y. t . 



Book Value. 

$226,193 63 

160,262 50 

145,189 80 



79,381 
875 
36,300 
34,475 
210,500 
61,687 
52,625 



25 
00 
00 
00 
00 
50 
00 



404,606 25 

113,004 S2 
53,710 00 
25.524 81 

143.476 02 
40,026 60 
82,369 10 
77,010 67 



Rate. 
13S 
166 
570 
41 
130 
2 

95 

175 
109 
122 
121 
122 

235 

624 
366 
407 
25S 
2£3 
204 



Market Value. 

5220,800 00 

116.200 00' 

589,950 00 

10,250 00 

45,500 00 

700 00 

34,485 00 

35,000 00 

218,000 00 

61,000 00 

20 00 

402,600 00 

211,500 00 
312.000 00 

65,880 00 
383,394 00 

So. 914 00 
223,550 00' 
143.106 00 



BLACKSTONE MUTUAL FIRE INSURANCE CO. 



147 



805 shares Metropolitan Trust Co., N. Y., 
805 " National Bank of Commerce, N. Y. 
100 " U. S. Mort. & Trust Co., N. Y. ( 

Miscellaneous Stocks. 
278 shares Atlantic Safe Deposit Co., 
875 " Consolidated Gas Co. of N. Y., 
450 " Dela., Lacka. & Western Coal Co., 

10 " Underwriters Salvage Co., of N. Y. 
500 " West India & Pan. Tel. Co., Ltd., 
Government Bonds. 

United States 4s, 1925 

State and Municipal Bonds. 
New York canal 3s, 1957-59, . 
New York, N. Y., consolidated 3$s, 1916, . 
New York, N. Y., corporate stock 3?s, 1953, 
New York, N. Y., 3.}£s, 1913, . 
Railroad Bonds. 
Atlantic Coast Line 1st cons. 4s, 1952, 
Brooklyn & Montauk 2d 5s, 1938, 
Chic, Burl. & Q. (111. Div.) 4s, 1949, . 
Delaware & Hudson Co. conv. 4s, 1916, 
Lake Shore & Mich. Southern deb. 4s, 1928, 
Lake Shore & Mich. Southern 4s, 1931, 
New York Central & Hudson River deb. 4s, 1934 
N. Y., Chicago & St. Louis 4s, 1937, . 
N. Y., N. H. & Hartford notes, 4s, 1913, . 
Nor. Pac.-Gt. Nor. (C, B. <fe Q. col.) 4s, 1921, 
Rensselaer & Saratoga 1st 7s, 1921, 
St. Paul, Minn. & Man. (Pac. Ext.) 4s, 1940, 
West Shore 1st 4s, 2361, .... 

Miscellaneous Bonds. 
Maritime Asso. Port of N. Y. 5s, 1924, 
Providence Securities Co. 4s, 1957, 



Book Value. 


Rate. 


Market Value. 


. $291,458 30 


445 


$358,225 00 


111,210 75 


200 


161,000 00 


26,420 01 


480 


48,000 00 


26,450 00 


100 


27,800 00 


97,565 31 


140 


122,500 00 


22,500 00 


395 


88,875 00 


1,000 00 


150 


1,500 00 


2,000 00 


30 


7,500 00 


223,537 20 


114 


228,000 00 


512,930 00 


99 


495,000 00 


634,920 00 


97 


582,000 00 


500,625 00 


85 


425,000 00 


100,208 83 


100 


100,000 00 


55,550 00 


95 


52,250 00 


75,000 00 


110 


82,500 00 


152,000 00 


99 


148,500 00 


24,051 00 


97 


23,280 00 


198,125 00 


92 


184,000 00 


98,500 00 


92 


92,000 00 


143,483 75 


91 


136,500 00 


97,678 75 


100 


100,000 00 


299,143 66 


100 


300,000 00 


145,622 50 


96 


144,000 00 


66,625 00 


120 


60,000 00 


99,393 92 


96 


93,090 24 


203,312" 50 


98 


196,000 00 


5,000 00 


100 


5,000 00 


88,000 00 


82 


82,000 00 


$6,249,529 43 


$7,543,069 24 



BLACKSTONE MUTUAL FIRE INSURANCE COMPANY, 
PROVIDENCE, R. I. 

Incorporated August, 1868. Commenced business August, 1868. 
WM. B. McBEE, President. ERNEST W. BROWN, Secretary. 

Office, 10 Weybosset Street. 

Income. 

Net premiums, $754,793 27 

Gross interest on stocks and bonds. $52,459.57; bank deposits, 

$3,494.11, 

Gross profit on sale of bonds and stocks, .... 



55,953 68 
9,873 08 



Total income, . . . . . 

Ledger assets, Dec. 31, 1911, . 

Total, 

Disbursements 
Net amount paid policy holders for losses, 
Salaries, fees, etc., of officers and employees, 
Rents, ...... 

Advertising, printing and stationery, 
Postage, telegrams, telephone and express, 
Legal expenses, ..... 

Furniture and fixtures, . 



$820,620 03 
1,226,708 30 

$2,047,328 33 



$36,668 51 
19,897 65 
2,249 67 
1,507 90 
1,002 76 
1,434 52 
1,193 95 



148 



BLACKSTONE MUTUAL FIRE INSURANCE CO. 



Fire department, patrol and salvage corps fees and taxes, . 
Inspection department, for inspections, maps, plans, and adjust- 
ment of losses, ......... 

State taxes on premiums,. ....... 

Insurance department licenses and fees, ..... 

Other licenses, fees and taxes, ...... 

Dividends to policy holders, ....... 

Gross loss on sale of stocks, ....... 

All other disbursements, ........ 

Total disbursements, ....... 

Balance, ......... 

Ledger Assets. 

Book value of stocks and bonds (Schedule A), . 
Deposits in trust companies and banks on interest, . 
Premiums in course of collection, ..... 



Total ledger assets, .... 

Non-Ledger Assets. 
Interest due and accrued on bonds, 
Market value of stocks and bonds over book value, 

Gross assets, ...... 

Liabilities. 
Unpaid losses, ...... 

Unearned premiums on outstanding risks, 
Salaries, expenses and accounts, due or accrued, 
Federal, state and other taxes, due or accrued, 

Total, 

Surplus to policy holders, .... 

Total liabilities, including surplus, 



S43 01 

24,759 07 

10,890 08 

258 51 

31,142 57 

635,795 33 

1,031 48 

490 31 

$768,365 32 

$1,278,963 01 



$1,161,916 83 
87,930 47 
29,115 71 

$1,278,963 01 



3,573 34 
25,513 67 

$1,308,050 02 



$5,807 92 

593,345 58 

415 88 

14,757 67 

$614,327 05 
693,722 97 

$1,308,050 02 



In force Dec. 31, 1911, . 
Written during the year, 

Total, . 
Expired and terminated, 

In force at end of year, . 



Risks and Premiums. 

Risks. Cash Prem's. Conting't Prem's. 

. $145,899,825 00 $1,100,986 58 $5,504,932 90 
. 106,128,221 00 794,295 73 3,971,478 65 



$252,028,046 00 $1,895,282 31 $9,476,411 55 
96,256,147 00 723,272 92 3,616,364 60 

$155,771,899 00 $1,172,009 39 $5,860,046 95 



Miscellaneous. 

Net premiums received from organization of company, . 4,148,4! 

Net losses paid from organization of company, . . . l,646,l c . J 

Cash dividends paid policy holders from organization of company, 10,699,293 S3 
Losses incurred during the year, ...... 40,927 18 

Dividends to policy holders during 1912, 93.08 per cent. 



BUFFALO COMMERCIAL INSURANCE CO. 



149 



Schedule A. Stocks and Bonds owned by the Company. 



Railroad Stocks. 

60 shares Albany & Susquehanna, . 

109 " Beech Creek, 
350 " Canada Southern, . 
264 " Cayuga & Susquehanna, 
100 " Chic., Mil. & St. Paul, prei'., 
250 " Chic, Mil. & St. Paul, com., 
250 " Chicago & Eastern Illinois, pref., 
506 " Chicago & Northwestern, 
200 " Cleve., Cin., Chic. & St. L., pref., 

40 " Cleve., Cin., Chic. & St. L., com., 

230 " Cleveland & Pittsburg, . 

300 " Connecticut & Pass. Rivers, pref., 

110 " Detroit, Hillsdale & Southwestern, 
100 " Erie & Pittsburg, . 

200 " Great Northern, pref., 

150 " Hereford 

420 " Illinois Central, 

400 " Illinois Central, leased lines, 

200 " Joliet & Chicago, . 

350 " Lackawanna of New Jersey, 

100 " Mahoning Coal, preferred, 

250 " Manhattan, .... 

200 " M., St. P. & S. Ste. M., leased lines 

400 " Morris & Essex, 

400 " N. Y., Lackawanna & Western, 

200 " Northern Pacific, . 

1,298 " Pennsylvania, 

200 " Pittsburgh, Bess. & L. Erie, pref., 

500 " Pittsburgh, Bess. & L. Erie, com., 

245 " Pittsburgh, Ft. Wayne & Chicago, 

175 " Rensselaer & Saratoga, . 

150 " St. Louis Bridge Co., 1st pref., 

150 " St. Louis Bridge Co., 2d pref., 

50 " Upper Coos, .... 
Miscellaneous Stocks. 

280 shares American Tel. & Tel. Co., 

50 " Gold & Stock Telegraph Co., . 

250 " Providence Building Co., 
Government Bonds. 

United States 4s, 1925, .... 

State Bonds. 
Rhode Island 3|s, 1924, .... 
Rhode Island 3s, 1936, .... 

Railroad Bonds. 
Milwaukee Elec. Ry. & Light Co. 5s, 1951, 

Miscellaneous Bonds. 
Pawtucket Electric Co. 5s, 1938, 
United Electric Co., N. J., 4s, 1949, . 
Watertown Light & Power Co. 5s, 1959, 



Book Value. 
$8,400 00 

5,310 25 
23,837 50 
17,897 00 
10,000 00 
33,750 00 
27,500 00 
50,600 00 
18,000 00 

2,800 00 

16.171 25 
41,528 75 
10,752 50 

5,000 00 
25,337 50 
13,650 00 
43,232 50 
38,050 00 
35,100 00 
33,900 00 

5,500 00 
35,000 00 
18,000 00 
36,893 75 
50,850 00 
24,037 50 

77.172 00 
12,339 50 
18,378 13 
42,252 50 
34,400 00 
18,750 00 

9,300 00 
6,200 00 

32,671 00 

5,000 00 

20,000 00 

51,580 20 

100,000 00 
15,000 00 

24,125 00 

26,050 00 
12,600 00 
25,000 00 

$1,161,916 83 



Rate. 
290 

95 

67 
210 
140 
113 
102 
138 

95 

53 
168 
130 

96 
137 
130 

88 
127 

92 
166 

95 
106 
131 

84 
175 
122 
121 
122 
13) 

65 
165 
190 
120 

54 
140 

141 

118 

79 

114 

98 
88 

96 

103 

83 

100 



Market Value. 
$17,400 00 

5,177 50 
23,450 00 
16,632 00 
14,000 00 
28,250 00 
25,500 00 
69,828 00 
19,000 00 

2,120 00 
19,320 00 
39,000 00 
10,560 00 

6,850 00 
26,000 00 
13,200 00 
53,340 00 
36,800 00 
33,200 00 
33,250 00 

5,830 00 
32,750 00 
16,800 00 
35,000 00 
48,800 00 
24,200 00 
79,178 00 
13,000 00 
16,250 00 
40,425 00 
33,250 00 
18,000 00 

8,100 00 

7,000 00 

39,480 00 

5,900 00 

19,750 00 

52,440 00 

98,000 00 
13,200 00 

24,000 00 

25,750 00 
12,450 00 
25,000 00 

$1,187,430 50 



BUFFALO COMMERCIAL INSURANCE COMPANY, BUFFALO, N. Y. 

Incorporated April 15, 1896. Commenced business April 16, 1896. 

Paid-up Capital, $200,000. 

CHARLES GROBEN, President. GEO. H. HOFHEINS, Secretary. 

Home Office, 1+55 Main Street. 

Income. 

Net fire premiums, $282,746 03 

Gross interest on mortgages, $7,601.56; bonds, $16,260; bank 
deposits, $1,896.73 25,758 29 



150 



BUFFALO COMMERCIAL INSURANCE CO. 



Agents' balances previously charged off, . 
Gross profit on maturity of bonds, 

Total income, ...... 

Ledger assets, Dec. 31, 1911, ..... 

Total, 

Disbursements. 
Net amount paid policy holders for fire losses, . 
Expenses of adjustment and settlement of losses, 
Commissions or brokerage, ..... 

Salaries and expenses of special and general agents, . 

Salaries, fees, etc., of officers and employees, 

Rents, ........ 

Advertising, printing and stationery, 

Postage, telegrams, telephone and express, 

Legal expenses, ....... 

Furniture and fixtures, ...... 

Maps, including corrections, ..... 

Underwriters' boards and tariff associations, 

Fire department, patrol and salvage corps fees and taxes, 

Inspections and surveys, ..... 

State taxes on premiums, ..... 

Insurance department licenses and fees, . 

Other licenses, fees and taxes, .... 

Dividends to stockholders, ..... 

Agents' balances charged off, ..... 

All other disbursements, ..... 

Total disbursements, ..... 

Balance, ....... 

Ledger Assets. 
Mortgage loans on real estate, .... 

Book value of bonds (Schedule A), . 
Deposits in trust companies and banks on interest, . 
Agents' balances, ....... 

Total ledger assets, ..... 

Non-Ledger Assets. 
Interest accrued on : — 
Mortgages, $2,032.13; bonds, $2,915.52, . 



Gross assets, ...... 

Assets not admitted. 

Agents' balances over three months due, . 
Book value of bonds over market value, . 

Admitted assets, ..... 

Liabilities. 

Unpaid losses, $33,049.32; less reinsurance, $2,967, 
Unearned premiums on outstanding risks, 
Salaries, expenses and accounts, due or accrued, 



. 


$18 46 




55 00 


$308,577 78 


• 


691,167 74 


$999,745 52 


. $219,001 65 




5,913 61 




74,061 18 




6,288 72 




14,063 50 




1,000 00 




1,959 83 




1,938 69 




69 79 




9 75 




1,289 25 




2,315 37 




3,484 76 




1,534 47 




4,814 12 




1,399 91 




1,459 21 




6,000 00 




58 63 




927 75 


$347,590 19 


$652,155 33 


. $137,090 00 


407,463 70 


67,280 18 




40,321 45 


$652,155 33 



4,947 65 



. 


$657,102 98 


. $131 85 
. 5,853 70 


5,985 55 




$651,117 43 


• 


$30,082 32 

27S.47S 23 

265 38 



BUFFALO COMMERCIAL INSURANCE CO. 



151 



Federal, state and other taxes, due or accrued, 
Commissions and other charges due agents and brokers, 
Due for return premiums, $110; reinsurance, $85.90, 
Reserve for contingencies, ..... 



Total, 

Cash capital, .... 

Surplus over all liabilities, 
Surplus to policy holders, 

Total liabilities, including surplus, 



$200,000 00 
122,556 88 



Fire risks in force Dec. 31, 1911, 
Fire risks written during the year, . 
Excess premiums on account of reinsurance, 

Total, 

Expired and terminated, 

In force at end of year, .... 
Deduct amount reinsured, 

Net amount in force, 



Risks and Premiums. 

Risks. 

$58,665,594 00 



34,857,271 00 



$3,500 00 

1,038 72 

195 90 

15,000 00 

$328,560 55 



322,556 88 
$651,117 43 



Premiums. 

$619,994 07 

383,408 76 

912 62 



$93,522,865 00 $1,004,315 45 
37,657,783 00 424,188 04 



$55,865,082 00 
3,697,584 00 



$580,127 41 
38,756 78 



$52,167,498 00 $541,370 63 



Miscellaneous. 

Net premiums received from organization of compare, 

Net losses paid from organization of company, 

Cash dividends declared from organization of company, 

Fire losses incurred during the year, 

Dividends declared duiing the year (3 per cent.), 

Par value of company's stock owned by directors, 



$4,016,149 00 

2,228,547 00 

169,000 00 

216,909 90 

6,000 00 

62,000 00 



Schedule A. Bonds owned by the Company. 



County and Municipal Bonds 
Buffalo, N. Y., 3£s, 1913, . 
Buffalo, N. Y., 3 |s, 1914-15, 
Buffalo, N. Y., 3§s, 1916, . 
Buffalo, N. Y., 3K 1919, . 
Buffalo, N. Y., 3*s, 1922-23, 
Buffalo, N. Y., 4s, 1919-29, 
Erie County, N. Y., 4s, 1929, 
Erie County, N. Y., 4Js, 1924, 
New York, N. Y., 3£s, 1917, 
New York, N. Y., 3fs, 1928-29, 
New York, N. Y., 3|s, 1954, 

Railroad Bonds 
Atlantic Coast Line 4s, 1952, 
Chic., Burl. & Quincy (Neb. Ex.) 4s, 1927, 
Chic, Mil. <t St. P. (Chic & P. W. Div.) 5s, 1921, 
Chic, Mil. & St. P. (LaC. & Dav. Div.) 5s, 1919, 
Delaware & Hudson 4s, 1943, .... 
Union Pacific 1st ref. 4s, 2008, .... 

Wabash 1st 5s, 1939, 

West Shore 1st 4s, 2361, 



Book Value. 
$9,865 00 
19,680 50 
19,605 00 
4,866 00 
19,300 00 
100,000 00 
14,000 00 
15,185 70 
24,250 00 
32,752 50 
36,000 00 

14,300 00 
15,000 00 
16,162 50 
15,834 00 
15,037 50 
9,725 00 
15,900 00 
10.000 00 

$407,463 70 



Rate. 

100 
99 
98 
96 
95 
99 
99 

101 
97 
91 
85 

95 

97 
105 
104 

99 

96 
106 

98 



Market Value. 

$10,000 00 
19,800 00 
19,600 00 
4,800 00 
19,000 00 
99,000 00 
13,860 00 
15,150 00 
24,250 00 
31,850 00 
34,000 00 

14,250 00 
14,550 00 
15,750 00 
15,600 00 
14,850 00 

9,600 00 
15,900 00 

9,800 00 

$401,610 00 






152 



BUFFALO GERMAN INSURANCE CO. 



BUFFALO GERMAN INSURANCE COMPANY, BUFFALO, N. Y. 

Incorporated Feb. 15, 1867. Commenced business Feb. 18, 1867. 

Paid-up Capital, $200,000. 

JOHN G. WICKSER, President. . CHARLES A. GEORGER, Secretary. 

Home Office, 447 Main Street. 

Income. 

Net fire premiums, 1660,621 67 

Gross interest on mortgages, 821,769.19; collaterals, $36" 
bonds, $58,345.88; bank deposits, 86,118.03; all other, 89.90; 
gross rents, including $4,000 for company's own occupancy, 

$33,520.83, • . 120,129 80 

Agents' balances previously charged off, ..... 83 50 

Gross increase in book value of bonds, ..... 2,253 33 



Total income, 
Ledger assets, Dec. 31, 1911, 

Total, . 



Disbursements. 



Net amount paid policy holders for fire losses, . 
Expenses of adjustment and settlement of losses, 
Commissions or brokerage, .... 

Salaries and expenses of special and general agents, 
Salaries, fees, etc., of officers and employees, 
Rents, for company's own occupancy, 
Advertising, printing and stationery, 
Postage, telegrams, telephone and express, 
Legal expenses, ...... 

Furniture and fixtures, ..... 

Maps, including corrections, .... 

Underwriters' boards and tariff associations, 

Fire department, patrol and salvage corps fees and taxes. 

Inspections and surveys, 

Repairs and expenses on real estate, 

Taxes on real estate, 

State taxes on premiums, 

Insurance department licenses and fees, 

Other licenses, fees and taxes, 

Dividends to stockholders, 

Agents' balances charged off, . 

Gross loss on sale of bonds, 

Gross decrease in book value of bonds, 

All other disbursements, 

Total disbursements, 

Balance, .... 

Ledger Assets. 
Book value of real estate, .... 
Mortgage loans on real estate, 
Loans secured by collateral (Schedule A), 



3,088 30 
2,566,809 02 



83,349,897 32 


$364,128 80 

11,418 45 

167,570 19 

15,689 90 


40,149 88 

4,000 00 

3,695 02 

4.502 98 

996 54 


842 15 


3,211 15 
4,601 23 
5,209 51 


4,435 26 
-1 82 


13,378 30 

10,5S4 79 

1,836 00 

3,333 63 

70.000 00 


5 48 


306 25 


15,034 62 


2.012 76 


$755,414 71 


52,594.482 61 


$320,000 00 

426,300 00 

10.500 00 



BUFFALO GERMAN INSURANCE CO. 



153 



Book value of bonds (Schedule B), . 

Deposits in trust companies and banks on interest, . 

Agents' balances, ........ 

Total ledger assets, ...... 

Non-Ledger Assets. 

Interest due and accrued on: — 
Mortgages, $7,662.44; bonds, $12,051.04; collateral loans, $270, 
Rents due on company's property, ..... 

Gross assets,* ........ 



$1,526,788 94 

211,881 32 

99,012 35 

$2,594,482 61 



19,983 48 
330 00 

$2,614,796 09 



Assets not admitted. 

Agents' balances over three months due, 
Book value of bonds over market value, . 

Admitted assets, ..... 



£1,681 96 
3,633 95 



5,315 91 



. $2,609,480 18 



Liabilities. 

Unpaid losses, including $6,000 resisted, $48,896.33; less reinsur- 
ance, $7,307.62, . . . . ^ . 
Unearned premiums on outstanding risks, 
Salaries, expenses and accounts, due or accrued, 
Federal, state and other taxes, due or accrued, 
Commissions and other charges due agents and brokers, 
Reserve for contingencies, ..... 



Total, 

Cash capital, ...... 

Surplus over all liabilities, .... 

Surplus to policy holders, . . . . — 

Total liabilities, including surplus, 

Risks and Premiums. 



$200,000 00 
1,626,470 41 



Fire risks in force, Dec. 31, 1911, 
Fire risks written during the year, . 
Excess premiums on account of reinsurance, 

Total, 

Expired and terminated, 

In force at end of year, .... 
Deduct amount reinsured, 

Net amount in force, 



Risks. 



$41,588 71 

681,421 06 

500 00 

11,000 00 

3,500 00 

45,000 00 

$783,009 77 

1,826,470 41 
>2,609,480 18 

Premiums. 



$134,960,865 00 $1,316,406 79 

83,311,754 00 842,668 08 

16,742 13 



$218,272,619 00 $2,175,817 00 
74,697,654 00 787,413 14 



$143,574,965 00 $1,388,403 86 
9,781,371 00 84,240 40 



$133,793,594 00 $1,304,163 46 



Miscellaneous. 
Net premiums received from organization of company, 
Net losses paid from organization of company, 
Cash dividends declared from organization of company, 



$16,833,378 83 
8,407,028 42 
1,875,925 00 



* Including $300,000 special reserve under New York law. 



154 



BUFFALO GERMAN INSURANCE CO. 



Fire losses incurred during the year, 

Dividends declared during the year (35 per cent.), 

Par value of company's stock owned by directors, 



8353,586 09 
70,000 00 
36,600 00 



Schedule A. Securities held as Collateral. 

Company's 

Market Value 

$980 00 

3,750 00 

1,600 00 

720 00 

730 00 

990 00 

3,000 00 

4,000 00 



10 shares Am. Agric. Chemical Co., preferred, 

50 " Western Union Telegraph Co., 

10 " Union Pacific R.R. Co., 

10 " American Smelting & Refining Co. 

Chicago, Rock Is. & Pacific R.R. 4s, 2002, 

Delaware & Hudson 4s, 1916, 

25 shares Third National Bank, Buffalo, 

16 " German American Bank, Buffalo, 



§15,770 00 



Loaned 
Thereon. 



$6,000 00 



4,500 00 



$10,500 00 



Schedule B. Bonds owned by the Company. 



Buffalo, N. 
Buffalo, N. 
Buffalo, N. 
Buffalo, N. 



Y. 

Y. 
Y. 
Y. 



State, County and Municipal Bonds 
Batavia, N. Y., 41s, 1919, 
Buffalo, N. Y., 3|s, 1913, . 

4s, 1913, . 

3|s, 1914-1915, 

3 |s, 1916, . 

3|s, 1917-18, 
Buffalo, N. Y., 3fo 1919-21, 
Buffalo, N. Y., 3K 1922-23, 
Buffalo, N. Y. f 3§s, 1924-26, 
Buffalo, N. Y., 4s, 1924-29, 
Buffalo, N. Y., 3|s, 1927-29, 
Erie County, N. Y., 4Js, 1925, 
Erie County, N. Y., 4s, 1926-28, 
Los Angeles, Cal., 4|s, 1920-21, 
New York, N. Y., 3|s, 1922, 
New York, N. Y., 3§s, 1928-29,. 
New York, N. Y., 3|s, 1954, 
New York, N. Y., 3|s, 1916, 
New York 4s, 1942, . 
Westchester County, N. Y., 4s, 1937-38, 

Railroad Bonds. 
Atchison, Top. & Santa Fe 4s, 1928, . 
Buffalo 5s, 1931, 
Chic, Burl. & Quincy (Neb. Ext.) 4s, 1927, 
Chic, Mil. & St. Paul (Pac Div.) 5s, 1921, 
Chic, Mil. & St. Paul (Wis. & M. Div.) 5s, 1921 
Ch., Mil. & St. P. ( D., Gt. So. Div.) 5s, 1916, 
Ch., Mil. & St. P. (LaC. & Dav. Div.) 5s, 1919, 
Ch., Mil. & St. P. (Dubuque Div.) 6s, 1920, 
Delaware & Hudson 4s, 1943, 
Lake Shore & Michigan Southern 3|s, 1997, 
New York Central 4|s, 1920, . 
St. Paul, Minn. & Manitowoc 4s, 1933, 

Miscellaneous Bonds. 
Buffalo General Electric 5s, 1939, 
Niagara Falls Power 5s, 1932, 



Book Value. 

$14,000 00 

85,333 33 

5,000 00 
126,390 00 
14,873 34 
29,746 68 
44,620 02 
13,741 66 

9,700 00 
316,900 00 

9,700 06 
15,196 35 
41,580 00 
25,250 00 
94,000 00 
59,800 00 
85,000 00 
58,800 00 
75,687 50 
39,600 00 

23,875 00 

25,875 00 

29,400 00 

42,000 00 

26,250 00 

25,500 00 

26,000 00 

28,000 00 

39,600 00 

22,000 00 

15,000 00 

19,600 00 

23,532 50 
15,237 50 

S1.526.7SS 04 



Rate. 

100 

100 

100 
99 
98 
97 
96 
95 
94 
99 
93 

10 
99 

100 
94 
91 
85 
97 

101 
97 

96 

105 

97 

105 

106 

102 

104 

111 

99 

88 

99 

98 

102 
102 



Market Value. 

$14,000 00 

85,333 33 

5,000 00 

126,390 00 
15,026 66 
29,746 68 
44,159 99 
13,4" 
9,400 00 

316,800 00 
9,300 00 
15,150 00 
41,580 00 
25,000 00 
94,000 00 
59,150 00 
>>0 00 
58,200 00 
75,750 00 
38,800 00 

24,000 00 

26,250 00 

29,100 00 

42,000 00 

26,500 00 

25,500 00 

26,000 00 

27,750 00 

39,600 00 

22,000 00 

30 00 

19,600 00 

23,460 00 
15,300 00 

$1,523,154 99 



CALEDONIAN- AMERICAN INSURANCE CO. 



155 



CALEDONIAN-AMERICAN INSURANCE COMPANY, 
NEW YORK, N. Y. 

Incorporated Dec. 24, 1897. Commenced business March 24, 1898. 

Paid-up Capital, $200,000. 

CHARLES H. POST, President. MILWARD PRAIN, Secretary. 

Home Office, 50 Pine Street. 

Income. 

Net fire premiums, $12,506 67 

Gross interest on stocks and bonds, $9,712.50; bank deposits, 
$168.17, 9,880 67 

Total income, ...... 

Ledger assets, Dec. 31, 1911, . 

Total, 

Disbursements. 

Net amount paid policy holders for fire losses, . 
Expenses of adjustment and settlement of losses, 
Commissions or brokerage, ..... 

Salaries and expenses of special and general agents, . 

Salaries, fees, etc., of officers and employees, 

Rents, ......... 

Advertising, printing and stationery, 

Postage, telegrams, telephone and express, 

Maps, including corrections, ..... 

Underwriters' boards and tariff associations, 

Fire department, patrol and salvage corps fees and taxes, 

Inspections and surveys, ..... 

State taxes on premiums, ..... 

Insurance department licenses and fees, . 

Other licenses, fees and taxes, .... 

Dividends to stockholders, ...... 

All other disbursements, ...... 

Total disbursements, ..... 

Balance, ....... 

Ledger Assets. 

Book value of stocks and bonds (Schedule A), . 
Deposits in trust companies and banks not on interest, 
Deposits in trust companies and banks on interest, . 
Agents' balances, ....... 

Due from other companies, ..... 



Total ledger assets, 

Interest accrued on bonds, 
Gross assets, . 



Non-Ledger Assets. 





$22,387 34 


• 


267,732 61 


• 


$290,119 95 




$8,884 26 




436 35 




3,957 36 




66 15 




483 90 




24 47 




221 95 




37 13 




30 02 




202 30 




38 31 




30 01 




203 87 




149 98 




44 51 




8,000 00 




34 77 




$22,845 34 




$267,274 61 




$239,498 99 




928 44 




11,594 49 




15,216 38 




36 31 


• 


$267,274 61 


. 


2,265 83 



$269,540 44 



156 



CALEDONIAN-AMERICAN INSURANCE CO. 



Assets not admitted. 
Agents' balances over three months due, . . I 75 

Book value of stocks and bonds over market value, . 12,268 99 

Admitted assets, ........ 

Liabilities. 

Unpaid losses, including $1,952.13 resisted, $9,536.28; less re- 
insurance, $7,942.85, ..... 
Unearned premiums on outstanding risks, 
Salaries, expenses and accounts, due or accrued, 
Federal, state and other taxes, due or accrued, 
Due for reinsurance, 
Reserve for contingencies, 

Total, . 

Cash capital, S200,000 00 

Surplus over all liabilities, . . . 37,960 74 

Surplus to policy holders, 



Total liabilities, including surplus, 

Risks and Premiums. 



Fire risks in force Dec. 31, 1911, 
Fire risks written during the year, 

Total, .... 
Expired and terminated, 

In force at end of year, . 
Deduct amount reinsured, 

Net amount in force, 



Risks. 

S17,165,427 00 
14,763,270 00 

$31,928,697 00 
12,291,251 00 

$19,637,446 00 
17,116,118 00 



$12,360 74 
$257,179 70 



$1,593 43 

12,760 02 

100 00 

200 00 

4,065 51 

500 00 

$19,218 96 



237,960 74 
$257,179 70 



Premiums. 

$163,443 78 
144,894 78 

$308,338 56 
125,089 41 

$183,249 15 
159,181 82 



$2,521,328 00 $24,067 33 



Miscellaneous. 

Net premiums received from organization of company, 

Net losses paid from organization of company, 

Cash dividends declared from organization of company, 

Fire losses incurred during the year, 

Dividends declared during the year (4 per cent.), 

Par value of company's stock owned by directors, 



Schedule A. Stocks and Bonds 

Railroad Stocks. 
200 shares Pittsburgh, Bessemer & L. Erie, 

Miscellaneous Stocks. 
60 shares American Tel. & Tel. Co., . 

Municipal Bonds. 
New York, N. Y., 3£s, 1954, . 

New York, N. Y., 3§s, 1935 

New York, N. Y., 4is, 1960, .... 

Railroad Bonds. 
Brooklyn, Queens Co. & Suburban 1st 5s, 1941, . 
New York, Ontario & West. ref. 4s, 1992, . 
Steinway, New York, 1st 6s, 1922, 

Miscellaneous Bonds. 
Tenth & Twenty-third St. Ferry Co. 1st 5s, 1919, 



OWNED BY THE 
Book Value. 
$7,283 90 

8,131 25 

156,187 50 

43,428 96 

3,082 50 

5,481 25 
5,097 38 
5,718 75 

5,087 50 
5239,498 99 



$462,981 14 

417,162 84 

76,000 00 

6,921 48 

8,000 00 

4,500 00 

Company. 

Rate. Market Value. 

65 $6,500 00 



141 

85 

89 

100 

99 

95 

102 

60 



8,460 00 

148,750 00 

42.720 00 

3,000 00 

4,950 00 

""^0 00 

5,100 00 

3,000 00 
$227,230 00 






CALUMET INSURANCE CO. 



157 



CALUMET INSURANCE COMPANY, CHICAGO, ILL. 

Incorporated Jan. 21, 1905. Commenced business March 22, 1905. 
Paid-up Capital, $300,000. 
IRVING OSBORNE, President. OTTO E. GREELY, Secretary. 

Home Office, Insurance Exchange Bldg. 

Income. 

Net fire premiums, ...... 

Gross interest on mortgages, $810; stocks and bonds, $25,523.95; 

bank deposits, $452.61, 

Agents' balances previously charged off, . 

Gross profit on sale of bonds, ..... 

Gross increase in book value of bonds, 

Total income, ...... 

Ledger assets, Dec. 31, 1911, ..... 

Total, . . . 

Disbursements. 
Net amount paid policy holders for fire losses, 
Expenses of adjustment and settlement of losses, 
Commissions or brokerage, ..... 

Agency expenses, ....... 

Salaries and expenses of special and general agents, . 

Salaries, fees, etc., of officers and employees, 

Rents, ......... 

Advertising, printing and stationery, 

Postage, telegrams, telephone and express, 

Legal expenses, ....... 

Furniture and fixtures, ...... 

Maps, including corrections, ..... 

Underwriters' boards and tariff associations, 

Fire department, patrol and salvage corps fees and taxes, 

Inspections and surveys, ..... 

State taxes on premiums, ..... 

Insurance department licenses and fees, . 

Agents' balances charged off, ..... 

Gross loss on sale of bonds, ..... 

All other disbursements, ..... 

Total disbursements, ..... 

Balance, ....... 

Ledger Assets. 
Mortgage loans on real estate, .... 

Book value of stocks and bonds (Schedule A), . 
Cash in office, . . . . 

Deposits in trust companies and banks not on interest, 
Deposits in trust companies and banks on interest, . 
Agents' balances, ....... 

Bills receivable, ....... 





$340,614 29 


23.95; 


26,786 56 


306 40 


4,861 25 


• 


525 00 


$373,093 50 


• 


793,432 45 


$1,166,525 95 


. $272,261 73 




5,992 02 




44,896 13 




96 96 




29,117 32 




27,025 69 




5,186 09 




7,838 79 




4,595 07 




663 66 




1,711 83 




2,711 19 




2,913 09 




1,782 10 




5,412 77 




11,870 92 




6,833 04 




1,220 89 




162 35 




4,352 85 


. $436,644 49 


. $729,881 46 


$18,000 00 




557,621 25 




6,862 05 




6,200 11 




47,513 38 




81,509 36 




182 65 



158 



CALUMET INSURANCE CO. 



Due from other companies, ..... 
Deposits with Philadelphia Underwriters' Association, 

Total ledger assets, ..... 

Non-Ledger Assets. 
Interest accrued on: — 
Mortgages, $371.25; bonds, $5,438.66, 

Gross assets, ....... 

Assets not admitted. 

Agents' balances over three months due, . 

Book value of stocks and bonds over market value, . 

Due from unauthorized companies, 

Deposit with Philadelphia Underwriters' Association, 

Special deposits less $8,174.96 liability thereon, 

Admitted assets, ...... 



$430 67 

31,031 25 

7 82 

100 00 

1,625 04 



Liabilities. 

Unpaid losses, including $4,305.59 resisted, $86,269.05; less re- 
insurance, $26,100.70, 
Unearned premiums on outstanding risks, 
Salaries, expenses and accounts, due or accrued, 
Federal, state and other taxes, due or accrued, 
Due for reinsurance, ..... 



Total, 

Cash capital, ...... 

Surplus over all liabilities, .... 

Surplus to policy holders, . . . . — 

Total liabilities, including surplus, 

Risks and Premiums. 



$300,000 00 
62,633 85 



$11,892 66 
100 00 

$729,881 46 

5,809 91 
$735,691 37 



Fire risks in force Dec. 31, 1911, 
Fire risks written during the year, . 
Excess premiums on account of reinsurance, 

Total, 

Expired and terminated, 

In force at end of year, .... 
Deduct amount reinsured, 

Net amount in force, 



Risks. 

$88,748,162 00 
62,734,072 00 



$151,482,234 00 
68,373,196 00 

$83,109,038 00 
50,084,915 00 



33,214 78 
$702,476 59 



$60,168 35 

200,571 97 

500 00 

9,500 00 

69,102 42 

$339,842 74 



362,633 85 
$702,476 59 



Premiums. 

$1,029,826 19 

745,517 48 

28,769 32 

$1,804,112 99 
849,908 30 

$954,204 69 
570,415 32 



S33,024,123 00 $383,7S9 37 



Miscellaneous. 
Net premiums received from organization of company, 
Net losses paid from organization of company, 
Cash dividends declared from organization of company, 
Fire losses incurred during the year, 
Par value of company's stock owned by directors, 



$2,819,118 55 

2,089,835 89 

39,000 00 

273.665 40 

194.500 00 



CAMDEN FIRE INSURANCE ASSOCIATION. 



159 



Miscellaneous Slocks. 
1 share General Adjustment Bureau, . 
1 " Western Adjust. & Inspec. Co., 

Municipal Bonds. 
Chicago, 111., sanitary district 4s, 1921-28, 
New York, N. Y., 4s, 1955, 
Winnipeg, Manitoba, 4s, 1923, . 

Railroad Bonds. 
Atch., Top. & Santa Fe conv. 5s, 1917, 
Chicago Great Western 1st 4s, 1959, . 
Chicago, Rock Island & Pacific ref. 4s, 1934 
Kansas City Ry. & Light Co. 5s, 1913, 
Norfolk & Western conv. 4s, 1932, 
Peoria 1st ref. 5s, 1926, 
Southern Pacific Co. conv. 4s, 1929, . 
Tri-City Ry. & Light Co. 1st 5s, 1923, 

Miscellaneous Bonds. 
Commonwealth Edison Co. 1st 5s, 1943, 



OWNED BY THE 


Company. 




Book Value. 


Rate. 


Market Value. 


$50 00 


100 


$50 


00 


140 


00 


200 


200 


00 


70,665 


00 


99 


70,290 


00 


100,125 


00 


94 


94,000 


00 


10,000 


00 


98 


9,800 


00 


26,622 


50 


105 


26,250 


00 


46,000 


00 


76 


38,000 


00 


45,000 


00 


87 


43,500 


00 


23,500 


00 


90 


22,500 


00 


25,562 


50 


112 


28,000 


00 


24,250 


00 


98 


24,500 


00 


155,781 


25 


93 


139,500 


00 


14,550 


00 


98 


14,700 


00 


15,375 


00 


102 


15,300 


00 


$557,621 


25 


$526,590 00 



THE CAMDEN FIRE INSURANCE ASSOCIATION, CAMDEN, N. J. 

Incorporated March, 1841. Commenced business April, 1841. 

Paid-up Capital, $600,000. 

EDMUND E. READ, Jr., President. JOSEPH K. SHARP, Secretary. 

Home Office, 434 Federal Street. 



Income. 

Net fire premiums, ........ 

Deposit premiums on perpetual risks, ..... 

Gross interest on mortgages, $36,839.07; collaterals, $2,816.73; 
stocks and bonds, $72,318.40; bank deposits, $1,335.99; all 
other, $28.16; gross rents, including $3,000 for company's own 
occupancy, $3,349, ........ 

Premium on increase in capital, ...... 

Borrowed money, ......... 

From all other sources, ........ 

Total income, ........ 

Ledger assets, Dec. 31, 1911, plus $100,000 increase in capital, . 

Total, 

Disbursements . 
Net amount paid policy holders for fire losses, . 
Expenses of adjustment and settlement of losses, 
Commissions or brokerage, .... 

Agency expenses, ...... 

Salaries and expenses of special and general agents, 
Salaries, fees, etc., of officers and employees, 
Rents, for company's own occupancy, 
Advertising, printing and stationery, 
Postage, telegrams, telephone and express, 
Legal expenses, ...... 

Furniture and fixtures, ..... 



$1,452,062 83 
1,904 30 



116,687 35 

100,000 00 

52,000 00 

27 44 

$1,722,681 92 
2,661,465 98 

$4,384,147 90 



$757,075 67 

13,282 72 

367,781 46 

4,755 42 

20,847 48 

63,463 00 

3,000 00 

20,147 79 

7,144 97 

2,033 77 

2,397 61 



160 



CAMDEN FIRE INSURANCE ASSOCIATION. 



Maps, including corrections, ..... 

Underwriters' boards and tariff associations, 

Fire department, patrol and salvage corps fees and taxes, 

Inspections and surveys, 

Repairs and expenses on real estate, 

Taxes on real estate, 

State taxes on premiums, 

Insurance department licenses and fees, 

Other licenses, fees and taxes, 

Deposit premiums returned, . 

Dividends and interest to stockholders, 

Agents' balances charged off, . 

Gross loss on sale of bonds, 

Borrowed money repaid, 

Interest on borrowed money, . 

All other disbursements, 

Total disbursements, 

Balance, .... 

Ledger Assets. 
Book value of real estate, ..... 

Mortgage loans on real estate, 

Loans secured by collateral (Schedule A), 

Book value of stocks and bonds (Schedule B), . 

Cash in office, ....... 

Deposits in trust companies and banks not on interest, 
Deposits in trust companies and banks on interest, . 
Agents' balances, ....... 

Bills receivable, ....... 

Deposit with Philadelphia Underwriters' Association, 
Deposit with Western Sprinkled Risk Association, 

Total ledger assets, ...... 



Non-Ledger Assets. 
Interest due and accrued on: — 
Mortgages, $10,396.55; bonds, $18,119.53; collateral loans, 
$690.65; other assets, $797.30, . 

Gross assets, ...... 

Assets not admitted. 

Agents' balances over three months due, . 
Book value of real estate over market value, 
Book value of stocks and bonds over market value, 
Deposit with Philadelphia Underwriters' Association, 
Deposit with Western Sprinkled Risk Association, 

Admitted assets,* . . . . ... 



$6,012 46 

13,779 73 

8,770 99 

2,901 66 

590 74 

751 20 

15,842 39 

6,733 62 

5,628 42 

742 15 

66,955 02 

2 55 

1,134 94 

52,000 00 

37 34 

5,466 82 

$1,449,279 92 

$2,934,867 98 



$86,992 99 

741,400 00 

96,250 00 

1,740,517 41 

46 73 

2,485 43 

37,126 78 

228,738 24 

710 40 

100 00 

500 00 

$2,934,867 98 



30,004 03 



$409 25 

6,492 99 

27,504 41 

100 00 

500 00 


$2,964,872 01 
35,006 65 




S2,929,S65 36 



1 * These assets include deposits in this country amounting to $41,185, which the company has made 
for the protection of certain policy holders. Liabilities have accrued against these deposits, which are 
included in the total liabilities of the company. The excess of these deposits over corresponding liabilities 
is $9,305, which is included in the surplus and is subject to a lien under the conditions of the special deposit, 
which, in certain contingencies, would, it should be noted, remove said excess from the funds available 
to pay the claims of general policy holders. 



CAMDEN FIRE INSURANCE ASSOCIATION. 



161 



Liabilities. 
Unpaid losses, including $4,720 resisted, $197,416; less reinsur- 
ance, $36,771.65, . . 
Unearned premiums on outstanding risks, 
Reclaimable on perpetual fire policies, 
Dividends declared and unpaid to stockholders, 
Salaries, expenses and accounts, due or accrued, 
Federal, state and other taxes, due or accrued, 
Interest paid in advance, .... 
Reserve for contingencies, .... 



Total, 

Cash capital, .... 

Surplus over all liabilities, 
Surplus to policy holders, 

Total liabilities, including surplus, 



$600,000 00 
820,264 25 



$160,644 35 

1,289,795 63 

27,620 17 

338 30 

1,012 28 

20,000 00 

190 38 

10,000 00 

. $1,509,601 11 



1,420,264 25 
. $2,929,865 36 



Fire risks in force Dec. 31, 1911, 
Fire risks written during the year, . 
Excess premiums on account of reinsurance, 

Total, 

Expired and terminated, 

In force at end of year, .... 
Deduct amount reinsured, 

Net amount in force, 
Perpetual risks in force (not included above), 



Risks and Premiums. 

Risks. Premiums. 

$229,572,105 00 $2,550,817 76 



188,113,178 00 



2,176,461 01 
7,563 22 



$417,685,283 00 $4,734,841 99 
161,364,869 00 1,903,721 03 



$256,320,414 00 $2,831,120 96 
30,310,106 00 358,128 46 



$226,010,308 00 $2,472,992 50 
$1,266,167 00 $30,689 08 



Miscellaneous. 

Net premiums received from organization of company, 

Net losses paid from organization of company, 

Cash dividends declared from organization of company, 

Stock dividends declared from organization of company, 

Fire losses incurred during the year, 

Dividends declared during the year, 

Par value of company's stock owned by directors, 



$12,055,628 99 

6,123,510 73 

704,025 73 

52,865 00 

824,293 64 

60,000 00 

90,770 00 



Schedule A. Securities held as Collateral. 

Company's Loaned 

Market Value. Thereon. 

$12,880 00 810,000 00 

4,600 00 2,500 00 

35,000 00 24,000 00 

14,000 00 4,000 00 

14,850 00 3,900 00 

14,962 50 5,000 00 

2,750 00 1,000 00 

1,375 00 600 00 

1,375 00 500 00 

4,500 00 2,000 00 

13,770 00 10,000 00 



140 shares Central Trust Co., Camden, N. J., 

50 " Central Trust Co., Camden, N. J., 

250 " Camden Horse R.R. Co., . 

100 " Camden Horse R.R. Co., . 

132 " Gloucester Turnpike Co., . 

133 " Gloucester Turnpike Co., . 
10 " Security Trust Co., Camden, N. J., 

5 Security Trust Co., Camden, N. J., 

5 " Security Trust Co., Camden, N. J., 

20 " Guarantee Trust Co., Atlantic City, N 

270 " West Jersey & Seashore R.R. Co., 



162 



CAMDEN FIRE INSURANCE ASSOCIATION. 



Public Service Corporation of N. J. 5s, 1958, 

Burlington Gas Light Co., 1st 5s, 1955, 

St. Louis & San Francises R.R. gen. 5s, 1927, 

Philadelohia Co. cons. 5s, 1951, 

Lehigh Valley R.R. gen. 4s, 2003, 

Philadelphia Rapid Transit 5s, 1962, . 

St. Louis Southwestern Ry. Co. 1st cons. 4s, 1932, 

100 shares Lehigh Coal & Navigation Co., . 



Railroad Stocks. 
500 shares Camden Horse, 
100 " Phila., Germantown & Norristown, 
650 " United N. J. R.R. & Canal, 
500 " West Jersey & Seashore, 
Bank Stocks. 
42 shares Girard Trust Co., Phila., . 
25 " Philadelphia National, 
Miscellaneous Stocks. 
400 shares American Tel. & Tel. Co., . 

9 " General Adjust. Bureau of N. Y., 
550 " Philadelphia & Camden Ferry Co., 

Countn and Municipal Bonds. 
Atlantic City, N. J. f 4§s, 1928, 
Bridgeton, N. J., 4s, 1927, 
Camden, N. J., 4|s, 1937, 
Camden County, N. J., 4s, 1944, 
Collingswood, N. J., school 4s, 1913-14, 
J., school 4s, 1915-19, 
J., school 4s, 1920-25, 
J., school 4s, 1926-33, 
J., school 4s, 1934-47, 
J., school 4s, 1948-59, 

, 5s, 1926 

J., 4s, 1915, 



Collingswood, N. 

Collingswood, N. 

Collingswood, N. 

Collingswood, N. 

Collingswood, N. 

Duluth, Minn. 

CtI on cost or ^^ 

Haddonfield, N. J., school 4Js, 1942-46, 

Jersey City, N. J., 7s, 1913, 

Jersey City, N. J., 4s, 1932, 

Merchantville, N. J., school 4*s, 1922, 

Ocean City, N. J., school 4£s, 1920, . 

Ocean City, N. J., 4s, 1932, 

Ocean City, N. J., 5s, 1941, 

Richmond, Va., 4s, 1926 

Richmond, Va., 4s, 1938-45, 

Troup Co., Ga., 5s, 1941, .... 

Railroad Bonds. 
Atlantic City 1st cons. 4s, 1951, 

Atlantic City 5s, 1919 

Bridgeton & Millville Traction 1st 5s, 1930, 

Camden & Suburban 1st 5s, 1946, 

Citizen Street 1st 6s, 1927, 

Consolidated Traction, N. J., 5s, 1933, 

Easton & Amboy 1st 5s, 1920, . 

Jersey Citv, Hoboken & Paterson 1st 4s, 1949, 

Lehigh & H. R. Ry. & Ferry Co. gen. 5s, 1920, 

Lehigh Valley Terminal 5s, 1941, 

Long Dock Co. cons. 6s, 1935, . 

Midland of New Jersey 1st 5s, 1940, . 

Newark Passenger 1st 5s, 1930, . 

N. J. & Hud. R. Ry. & Ferry Co. 1st 4s, 1950, 

New Jersev & New York 1st 5s, 1950, 

N. Y., L. E. & W. D. & Imp. Co. 1st 6s, 1913, 

North Hudson County 6s, 1914, 

Paterson cons. 6s, 1931, .... 

Public Service Corporation of N. J. 6s, 

Public Service Corporation of N. J. 5s, 1959, 

Seaboard Air Line 5s, 1913, 





Company's 




Market Value. 


Thereon. 


. $2,790 00 ] 








3,720 00 


• 






5,810 00 








?,500 00 < 






t 


4,800 00 






i 


1,900 00 


25,000 00 






3,200 00 
9,200 00 












$163,982 50 


•-,250 00 


OWNED BY THE COMPANY. 


Book Value. 


Bate. 


Market Value. 


$69,510 00 


560 


$70,000 00 


16,900 00 


294 


14.700 00 


164,650 75 


238 


154,700 00 


28,222 65 


102 


)0 00 


31,254 00 


994 


41,7 


9,292 00 


475 


11,875 00 


57,362 50 


141 


56,400 00 


450 00 


LOO 


450 00 


53,725 00 


226 


62,150 00 


40,892 80 


103 


41,200 00 


5,290 00 


97 


$50 00 


51,525 00 


105 


500 00 


107,500 00 


97 


97,0' 




100 


1,000 00 




99 


2.475 00 


> 23,500 00 < 


98 
97 


2,940 00 
3,880 00 


96 


.0 00 




95 


•0 00 


5,800 00 


106 


5,300 00 


50.000 00 


99 


49,500 00 


10,547 20 


104 


10,400 00 


16,788 30 


101 


15,150 00 


5,100 00 


98 


4,900 00 


18,000 00 


102 


18,360 00 


38,288 80 


99 


37,620 00 


7,000 00 


94 


6,580 00 


15.b44 71 


104 


15.600 00 


2,970 00 


98 


- W 00 


2S,228 75 


97 


io 00 


10,800 00 


106 


10,600 00 


25.6S0 00 


94 


24.440 00 


26,535 00 


104 


26,000 00 


S5 00 


99 


11,880 00 


79,076 25 


105 


30 00 


2,100 00 


102 


2,040 00 


107,175 00 


103 


103,000 00 


26,562 50 


105 


_ .250 00 


23.S95 00 


79 


23.700 00 


12,4S0 00 


102 


12.240 00 


57,259 20 


112 


56,000 00 


24,800 00 


124 


1,800 00 


28,322 50 


110 


- 050 00 


39,96S 75 


107 


37.-150 00 


24,670 00 


S3 


24.900 00 


15,750 00 


104 


15,600 00 


20,951 40 


100 


20.000 00 


3,202 50 


103 


3,090 00 


24,133 60 


115 


23.000 00 


21,800 00 


109 


21.S00 00 


IS. 725 00 


92 


) 00 


1,000 


00 


100 


1,000 00 



THE CAPITAL FIRE INSURANCE CO. 



163 



Seacoast prior lien 5s, 1948, 

Seacoast general 5s, 1948, .... 

South Jersey Gas, Elec. & Trac. 1st 5s, 1953, 

Trenton Passenger 1st 6s, 1922, 

Trenton Passenger 1st 6s, 1926, 

Trenton Passenger 1st 6s, 1931, 

West Jersey & Seashore 1st cons. 3|s, 1936, 

Miscellaneous Bonds. 
Hoboken Ferry Co. 1st 5s, 1946, 
Hudson County Gas Co. 1st 5s, 1949, 
Newark Consol. Gas Co. 5s, 1948, 
Newark Gas Co. 1st 6s, 1944, 
Paterson & Pass. Gas & Elec. Co. cons. 5s, 1949, 
Trenton Gas & Elec. Co. 1st 5s, 1949, 
United Electric Co. of N. J. 1st 4s, 1949, . 



Book Value. 

$16,859 50 

2,271 00 

55,500 00 

43,584 00 

9,600 00 

25,880 00 
26,812 50 
10,750 00 
4,436 25 
20,937 50 
16,872 50 
41,000 00 

,740,517 41 



Rate. 
108 
108 
100 
108 
111 
114 
89 

106 
104 
105 
126 
102 
104 
83 



Market Value . 

$16,200 00 

2,160 00 

55,000 00 

1,080 00 

3,330 00 

37,620 00 

8,900 00 

26,500 00 
26,000 00 
10,500 00 
4,410 00 
20,400 00 
16,640 00 
41,500 00 

$1,713,013 00 



THE CAPITAL FIRE INSURANCE COMPANY OF CONCORD, N. H. 

CONCORD, N. H. 

Incorporated March 10, 1886. Commenced business March 19, 1886. 

Paid-up Capital, §200,000. 

LYMAX JACKMAN, President. CHARLES L. JACKMAN, Secretary. 

Home Office, 2 South Main Street 



Income. 

Net fire premiums, ........ 

Gross interest on mortgages, $4,330.91; collaterals, $385.59; 
stocks and bonds, $24,484.84; bank deposits, $201.27; gross 
rents, $7,132.97, 

Agents' balances previously charged off, ..... 

Gross profit on sale or maturity of stocks and bonds, 

Borrowed money, ......... 

Total income, ........ 

Ledger assets, Dec. 31, 1911, ....... 



$217,658 29 



36,535 58 

76 46 

5,142 36 

3,000 00 

$262,412 69 
753,010 66 



Total, 



Disbursements. 



Net amount paid policy holders for fire losses, . 
Expenses of adjustment and settlement of losses, 
Commissions or brokerage, ..... 

Agency expenses, ....... 

Salaries and expenses of special and general agents, . 
Salaries, fees, etc., of officers and employees, 
.lents, . . . . . . . . 

Vdvertising, printing and stationery, 
^ostage, telegrams, telephone and express, 

egal expenses, ....... 

furniture and fixtures, ...... 

vtaps, including corrections, ..... 

Jnderwriters' boards and tariff associations, 

r ire department, patrol and salvage corps fees and taxes, 

lepairs and expenses on real estate, 

^axes on real estate, ...... 

tate taxes on premiums, ..... 



$1,015,423 35 


$95,040 12 

1,558 08 

54,283 20 

445 33 


5,255 87 

12,623 83 

805 00 


2,106 86 
931 24 


165 05 


54 22 


122 68 


1,572 00 
3,915 28 
3,398 74 
. 769 96 


1,287 77 



164 



THE CAPITAL FIRE INSURANCE CO. 



Insurance department licenses and fees, . 
Other licenses, fees and taxes, .... 

Dividends to stockholders, ..... 
Agents' balances charged off, ..... 
Gross loss on sale or maturity of ledger assets, . 
Borrowed money repaid, ..... 

Interest on borrowed money, ..... 
All other disbursements, ..... 

Total disbursements, ..... 

Balance, ....... 

Ledger Assets. 
Book value of real estate, ..... 

Mortgage loans on real estate, .... 

Loans secured by collateral (Schedule A), 
Book value of stocks and bonds (Schedule B), . 
Cash in office, ....... 

Deposits in trust companies and banks not on interest, 
Deposits in trust companies and banks on interest, . 
Agents' balances, ....... 



Total ledger assets, 



Non-Ledger Assets. 



Interest due and accrued on : — 
Mortgages, $1,751.21; bonds, $2,812.64; collateral loans, S0.83 

other assets, $44.60, ....... 

Rents due and accrued on company's property, 
Market value of stocks and bonds over book value, . 
Due from other companies, ...... 

Gross assets, ......... 

Assets xot admitted. 

Agents' balances over three months due, . . . $1,323 20 

Book value of real estate over market value, . . 5,414 67 

Due from unauthorized companies, . . . . 511 04 

Admitted assets, ........ 

Liabilities. 

Unpaid losses, including $1,033.48 resisted, $40,526.56; less re- 
insurance, $8,474.84, 

Unearned premiums on outstanding risks, 
Interest due or accrued, .... 

Salaries, expenses and accounts, due or accrued, 
Federal, state and other taxes, due or accrued, 
Borrowed money, ...... 



Total, . 
Cash capital, 

Surplus over all liabilities, 
Surplus to policy holders, 



$200,000 00 
230,342 16 



SI, 434 00 

2.073 66 

16,400 00 

83 03 

314 85 

53,000 00 

5,004 42 

489 18 

8263,134 37 

1752,288 98 



$81,614 67 

120,915 07 

11,000 00 

483.654 47 

6,353 96 

14.728 87 

1,294 07 

32,727 87 

$752,288 98 



4,609 28 
.543 67 
925 53 
933 96 

$759,301 42 



7,248 91 

$752,052 51 



$32,051 72 
174,518 32 

1,130 00 

12.010 31 

2,000 00 

100,000 00 

$321,710 35 



430.342 16 



Total liabilities, including surplus, 



$752,052 51 



THE CAPITAL FIRE INSURANCE CO. 



165 



Fire risks in force Dec. 31, 1911, 
Fire risks written during the year, 



Total, . 
Expired and terminated, 

In force at end of year, . 
Deduct amount reinsured, 

Net amount in force, 



Risks and Premiums. 

Risks. 

$78,939,559 00 
32,193,352 00 



Premiums. 

$840,769 21 
349,737 82 



$111,132,911 00 $1,190,507 03 
74,656,068 00 786,992 39 



$36,476,843 00 
8,155,251 00 



$403,514 64 
96,408 63 



$28,321,592 00 $307,106 01 



Miscellaneous. 

Net premiums received from organization of company, 

Net losses paid from organization of company, 

Cash dividends declared from organization of company, 

Fire losses incurred during the year, 

Dividends declared during the year, 

Par value of company's stock owned by directors, 

Schedule A. Securities held as Collateral 



$5,564,733 26 

3,309,133 23 

248,964 00 

106,537 80 

16,400 00 

36,900 00 



5 shares National State Capital Bank, Concord, N. H., 
120 " Swift & Co., 



Company's 
Market Value. 
$1,175 00 
12,600 00 



Loaned 

Thereon. 

$1,000 00 

10,000 00 



$13,775 00 $11,000 00 



Schedule B. Stocks and Bonds owned by the Company. 



Railroad Stocks. 
65 shares Atch., Top. & Santa Fe, 
33 " Boston & Maine, 
30 " Chicago June. & Un. Stk. Yd., pref., 
30 " Chicago, Milwaukee & St. Paul, 
45 " Chicago & Northwestern, . 
20 " Concord & Montreal Class 4, 
40 " Delaware & Hudson, 
94 " Great Northern, preferred, 
58 " Illinois Central, 
10 " Manhattan Elevated, 
25 " Massachusetts Electric Co., pref., 
60 " New York Central & Hudson River, 
10 '" New York, New Haven & Hartford, 
45 " Northern Pacific, 

20 " Southern Pacific, 

30 " Union Pacific, .... 

Bank Stocks. 
14 shares First National, Concord, N. H., 

100 " Mechanicks Nat,, Concord, N. H., 
10 " National Bk. of Lebanon, N. H. f 

148 " Nat. State Capital, Concord, N. H., 
Miscellaneous Stocks. 
30 shares Am. Agricul. Chemical Co., pref., 
40 American Locomotive Co., pref., 

80 " American Sugar Ref. Co., pref., . 

166 " American Tel. & Tel. Co., . 
16 " American Tobacco Co., pref., 
64 " American Woolen Co., pref., 
78 Amoskeag Manufacturing Co., . 

22 Concord Axle Co., 

40 Concord Electric Co., common, . 

21 " Concord Electric Co., preferred, 
93 " Concord Real Estate Co., . 

20 " Federal Sugar Refining Co., pref., 
2 " General Adjustment Bureau, 



50 
75 
50 
10 
00 
50 
18 



Book Value. 

$6,890 63 
4,558 12 
3,537 
3,868 
6,312 
3,011 
6,390 

12,097 
8,071 
1,396 25 
1,836 50 
6,557 50 
1,518 75 
5,571 88 
2,356 25 
4,802 50 

4,446 75 
15,330 00 

1,200 00 
34,334 00 

2,845 00 
3,757 50 
9,085 00 
19,381 23 
1,600 
5,693 
3,900 
2,506 
3,957 
2,363 
8,970 00 
1,702 50 
100 00 



00 
76 
00 
00 
25 
00 



Rate. 
108 

98 
108 
113 
138 
140 
166 
130 
127 
131 

78 
109 
128 
121 
108 
164 

350 
158 
140 
235 

100 

109 

118 

141 

105 

81 

75 

120 

80 

95 

75 

93 

100 



Market Value. 
$7,020 00 
3,234 00 
3,240 00 
3,390 00 
6,210 00 
2,800 00 
6,640 00 
12,220 00 
7,366 00 
1,310 00 
1,950 00 
6,540 00 
1,280 00 
5,445 00 
2,160 00 
4,920 00 

4,900 00 
15,800 00 

1,400 00 
34,780 00 

3,000 00 
4,360 00 
9,440 00 
23,406 00 
1,680 00 
5,184 
5.850 
2,640 
3,200 
1,995 
6,975 
1,860 
100 



00 
00 
00 
00 
00 
00 
00 
00 



166 



THE CENTRAL MANUFACTURERS MUTUAL INSURANCE I 



62 shares General Electric Co., 

4 " Liggett & Myers Tobacco Co., pref., 
3 " P. Lorillard Co., preferred, 

22 " Mergenthaler Linotype Co., 
2 " Nashua Manufacturing Co., 
25 " Page Belting Co., 
25 " Prcscott Piano Co., pref., . 
82 " Pullman Co., . 
15 " Stonega Coke & Coal Co., . 
75 " Swift & Co., . 

5 " The Woodbury E. Hunt Co., 
5 " Underwriters Salvage Co., Chicago, 

31 " United Fruit Co., 
60 " United Shoe Machinery Co., pref., 
85 " United States Steel Co., preferred, 
10 " Virginia & Carolina Chem. Co., pref., 

1 share Western Adjust. & Inspection Co 
20 shares Western Union Telegraph Co., 
Municipal Bonds. 

Concord, N. H., 3*s, 1914, 

Concord, N. H., 3£s, 1919, 

Keene, N. H., 4s, 1917, . 

Nashua, N. H., 4s, 1913, . 

New Rochelle, N. Y., 5s, 1921, 

New York, N. Y., 4s, 1936, 

New York, N. Y., 3^s, 1953-54, 

New York, N. Y., 4}s, 1960, 

Orange County, N. Y., 4£s, 1920 

Richmond, Va., 4s, 1944, . 

Rochester, N. H., 4s, 1921, 

Somersworth, N. H., 4s, 1915, 

Somersworth, N. H., 4s, 1918, 

Syracuse, N. Y., 4|s, 1921, 

Yonkers, N. Y., 4s, 1913, . 

Railroad Bonds 

Hudson Companies note, 6s, 1913, 

Pere Marquette of Indiana 1st 4s, 1943, 

Somerset 1st 4s, 1955, 

Southern Indiana 1st 4s, 1951, 

Miscellaneous Bonds. 

Cons. Gas, El. Lt. & P. Co., Baltimore, 4§s, 1935, 

Elkhart Gas Co. 1st 5s, 1924, . 

Keokee Consolidated Coke Co. 5s, 1959, 

Metropolitan Steamship Co. 1st 5s, 1939, 

New York & Penn. Telephone Co. 4s, 1929, 

Nipe Bay Co. 6s, 1914, 

Page Belting Co. note, 6s, 1913, 

St. Clair Furnace Co. 1st 5s, 1924, 

Western Tel. & Tel. Co. col. trust 5s, 1932, 



Book Value. 

$8,858 35 

400 00 

300 00 

3,890 00 

1,162 50 

1,250 00 

2,500 00 

7,830 55 

450 00 

7,732 50 

500 00 

500 00 

4,610 95 

1,913 75 

9,394 37 

1,211 25 

140 00 

1,787 50 

1,466 25 
946 20 

2,014 40 

1,005 00 

3,280 50 
40,800 00 
54,107 50 
15,225 00 

5,146 00 
11,002 50 

2,992 50 

1,000 

2,000 

5,157 

4,970 



00 
00 
50 
50 



7,900 00 

1,900 00 

960 00 

6,275 00 

850 00 
2,970 00 
2,550 00 
5,100 00 
2,745 00 
5,000 00 
35,000 00 
4,987 50 
1,922 50 

S4S3,654 47 



Rate. 
189 
114 
117 
218 
125 

98 

50 
165 

30 
108 

85 
100 
184 
112 
110 
115 
200 

76 

100 
99 
100 
100 
104 
96 

100 

102 

97 

99 

100 

99 

102 

100 

100 
78 
93 
81 

87 

97 

90 

80 

87 

100 

100 

102 

100 



Market Value. 



00 

00 
00 
00 
00 
00 



$11 

456 

4,796 
1,250 
1,225 
1,260 
13,530 00 

450 00 
8,100 00 

425 00 

500 00 
5,704 00 
1,68 

9.350 00 
1,150 00 

200 00 
1,520 00 

1,500 00 

990 00 

2,000 00 

1,000 00 

3,120 00 

38,400 00 

48,450 00 

15,000 00 

5,100 00 

10,670 00 

2,970 00 

1,000 00 

1,980 00 

5,100 00 

5,000 00 

8,000 00 

1,560 00 

930 00 

5,670 00 

870 00 
2,910 00 
•0 00 
4,000 00 
2.610 00 
5,000 00 
35,000 00 
5,100 00 
2,000 00 

§484,580 00 



THE CENTRAL MANUFACTURERS' MUTUAL INSURANCE 
COMPANY, VAN WERT, OHIO. 

Incorporated April 7, 1876. Commenced business Oct. 2, 1876. 
H. V. OLNEY, President. C. A. L. PURMORT, Secretary. 

Office, 122 West Main Street. 

Income. 
Net premiums, ......... $388,549 67 

Gross interest on mortgages, $4,207.44; bonds, $13,559; gross 
rents, including $1,200 for company's own occupancy, 83,051, . 20.S17 44 



Total income, 
Ledger assets, Dec. 31, 1911, 

Total, . 



£409,367 11 
541. 55S 17 

$950,925 23 



THE CENTRAL MANUFACTURERS MUTUAL INSURANCE CO. 



167 



Disbursements. 

Net amount paid policy holders for losses, 

Expenses of adjustment and settlement of losses, 

Commissions or brokerage, 

Salaries and expenses of special and general agents, 

Salaries, fees, etc., of officers and employees, 

Rents, for company's own occupancy, 

Advertising, printing and stationery, 

Postage, telegrams, telephone and express, 

Legal expenses, ..... 

Furniture and fixtures, . 

Maps, including corrections, . 

Underwriters' boards and tariff associations, 

Fire department, patrol and salvage corps fees and taxes, 

Inspections and surveys, 

Repairs and expenses on real estate, 

Taxes on real estate, 

State taxes on premiums, 

Insurance department licenses and fees, 

Other licenses, fees and taxes, 

Dividends to policy holders, . 

Agents' balances charged off, . 

Premium on bonds purchased, 

All other disbursements, 

Total disbursements, 

Balance, .... 

Ledger Assets. 
Book value of real estate, 
Mortgage loans on real estate, 
Book value of bonds (Schedule A), . 
Cash in office, .... 
Deposits in trust companies and banks not on interest, 
Agents' balances, .... 

Total ledger assets, 

Non-Ledger Assets. 
Interest accrued on : — 
Mortgages, $1,329.32; bonds, $3,757.54, . 
Market value of bonds over book value, . 

Gross assets, ....... 

Liabilities. 
Unpaid losses, ....... 

Unearned premiums on outstanding risks, 
Salaries, expenses and accounts, due or accrued, 
Federal, state and other taxes, due or accrued, 
Commissions and other charges due agents and brokers, 

Total, 

Surplus to policy holders, ..... 

Total liabilities, including surplus, 



8191,054 20 

1,820 56 

46,009 39 

5,752 05 

16,744 00 

1,200 00 

1,949 49 

1,213 

2,518 

227 

467 

89 

231 

11,618 48 

241 27 

575 

4,541 

878 

715 

66.275 

1,732 

665 

3,788 



60 
89 
65 
20 
89 
40 



60 
68 
41 
86 
82 
16 
00 
84 



$360,311 44 
8590,613 84 

$40,000 00 
82,875 00 

398,400 00 

5,092 65 

15,864 90 

48,381 29 

$590,613 84 



5,086 86 
7,660 00 

$603,360 70 



$22,177 47 

201,579 21 

200 00 

6,800 00 

5,499 91 

$236,256 59 
367,104 11 

$603,360 70 



168 THE CENTRAL MANUFACTURERS' MUTUAL INSURANCE CO. 



In force Dec. 31, 1911, . 
Written during the year, 

Total, . 
Expired and terminated, 

In force at end of year, . 



Risks and Premiums. 
Bab. 
. $25,099,586 00 
. 32,000,247 00 

. $57,099,833 00 
. 29,537,222 00 



Cash Prem's. 

$367,993 67 
454,940 56 

$822,934 23 
428,753 24 



. $27,562,611 00 

Miscellaneous. 
Net premiums received from organization of company, 
Net losses paid from organization of company, 
Cash dividends paid policy holders from organization of company, 
Losses incurred during the year, ...... 

Dividends to policy holders during 1912, 25 per cent. 



Contiug't Prem's. 

£822,146 07 
1,010,199 60 

$1,832,345 67 
944,060 82 

$394,180 99 $888,284 85 



$4,523,916 95 

2,260,651 02 

673,131 43 

194,769 61 



Schedule A. Bonds owned 

Government Bonds. 

United States 2s, 1930 

United State? 3s, 1918, op. 1908, 

County and Municipal Bonds. 

Akron, O., school district 4s, 1923, 

Barnesville, O., 5s, 1918, . 

Barnesville, <>., 5s, 1919-20, 

Barnesville, O., 5s, 1935-37, 

Barnesville, O., 5s, 1938-44, 

Bowling Green, O., school district 4s, 1940-48, 

Canton, O., school district 4s, 1928, . 

Cincinnati, O., school district 4s, 1949, 

Columbus, O., 4s, 1919, . 

Cuyahoga County, O., 4s, 1922, 

Cuyahoga County, O., 4s, 1928, 

Dayton, O., 4s, 1921, 

Dayton, O., 4s, 1922-25, . 

Fostoria, O., 4s, 1925, 

Maumee, O., 41s, 1937, 

New Lexington, O., 4s, 1913-16, 

New Lexington, O., 4s, 1917-23, 

Putnam County, O., 4s, 1919-21, 

Putnam County, O., 4s, 1923-24, 

Toledo, O., 4s, 1922, 

Troy, O., 4s, 1920-26, 

Union Citv, 0., school district 4s, 1916-24, 

Van Wert, O., school district 4s, 1926-28, 
school district 4s, 1929-37, 
O., Harrison Tp. 4s, 1920-21, 
4s, 1928, 

W. York Tp. 4s, 1929, 
York Tp. 4s, 1924-26, 
Morrison Tp. 41s, 1914-15, 
Morrison Tp. 4§s, 1917, 
Morrison Tp. 41s, 1919-21, 
Morrison Tp. 41s, 1922 23, 
Morrison Tp. 41s, 1924-25, 
Morrison Tp. 4|s, 1926, 
Liggett Tp. 4 |s, 1922-23, 
Liggett Tp. 41s, 1924-25, 
Liggett Tp. 41s, 1926-27, 
Feasby Tp. 41s, 1913, . 
Feasby Tp. 41s, 1914-15, 
Feasby Tp. 4£s, 1916, 
Feasby Tp. 4|s, 1917, 
1925, . 
1926-28, 
1929-31, 



Van Wert, O 
Van Wert Co 
Van Wert Co 
Van Wert Co 
Van Wert Co 
Van Wert Co 
Van Wert Co 
Van Wert Co 
Van Wert Co 
Van Wert Co., O 
Van Wert Co., O. 
Van Wert Co 
Van Wert Co 
Van Wert Co 
Van Wert Co 
Van Wert Co 
Van Wert Co 
Van Wert Co 
Wellsville, O. 
Wellsville, O. 
Wellsville, O. 



O 
O. 

o. 
o. 
o. 
o. 
o. 

41s 
41s 

4*s 



by the Company. 

Book Value. Rate. 

850,000 00 101 

1,800 00 103 



16,000 00 

1,000 00 

2,000 00 

3,000 00 

6,500 00 

25,000 00 

23,000 00 

25,000 00 

20,000 00 

10,000 00 

15,000 00 

5,000 00 

20,000 00 

8,000 00 

9,000 00 

2,000 00 

3,500 00 

20,000 00 

7,000 00 

25,000 00 

19,500 00 

18,000 00 

3,000 00 

12,000 00 

5,000 00 

2,000 00 

5,000 00 

10,000 00 

400 00 

200 00 

1,000 00 

800 00 

800 00 

400 00 

600 00 

800 00 

600 00 

500 00 

1,500 00 

1,000 00 

1,000 00 

2,500 00 

6,500 00 

7,500 00 

S39S.400 00 



101 
102 
103 
107 
108 
101 
101 
104 
101 
101 
102 
101 
102 
101 
104 
100 
101 
101 
102 
102 
101 
100 
101 
102 
101 
101 
102 
101 
101 
103 
104 
105 
106 
107 
105 
106 
107 
100 
101 
102 
103 
106 
107 
108 



Market Value. 

$50,500 00 

1,854 00 

16,160 00 

1,020 00 

2,060 00 

3,210 00 

7,020 00 

25,250 00 

23,230 00 

26,000 00 

20,200 00 

10.100 00 

15,300 00 

5,050 00 

20,400 00 

8,080 00 

9,360 00 

2,000 00 

3,535 00 

20,200 00 

7,140 00 

25,500 00 

19,695 00 

18,000 00 

3,030 00 

12,240 00 

5,050 00 

2,020 00 

5,100 00 

10,100 00 

404 00 

206 00 

1,040 00 

840 00 

- 00 
428 00 
630 00 

- 00 
642 00 
500 00 

1,515 00 
1,020 00 
1,030 00 
2.650 00 
6,955 00 
8,100 00 

$406,060 00 



CENTRAL NATIONAL FIRE INSURANCE CO. 



169 



CENTRAL NATIONAL FIRE INSURANCE COMPANY, CHICAGO, ILL. 

Incorporated March 6, 1909. Commenced business March 8, 1909. 

Cash Capital, $200,000.* 

JAMES B. HOBBS, President. F. M. RICE, Secretary. 

Home Office, 175 West Jackson Boulevard. 

Income. 
Net fire premiums, ........ $469,560 09 

Gross interest on mortgages, §6,926.99; collaterals, $100.83; 
stocks and bonds, $18,766.80; bank deposits, $1,615.11; all 

other, $119.65, 27,529 38 

Gross profit on sale or maturity of bonds, .... 900 40 



Total income, 
Ledger assets, Dec. 31, 1911, 

Total, . 



Disbursements. 



Net amount paid policy holders for fire losses, . 
Expenses of adjustment and settlement of losses, 
Commissions or brokerage, ..... 

Salaries and expenses" of special and general agents, . 

Salaries, fees, etc., of officers and employees, 

Rents, ......... 

Advertising, printing and stationery, 

Postage, telegrams, telephone and express, 

Legal expenses, ....... 

Furniture and fixtures, ...... 

Maps, including corrections, ..... 

Underwriters' boards and tariff associations, 

Fire department, patrol and salvage corps fees and taxes, 

Inspections and surveys, ..... 

Repairs and expenses on real estate, 

State taxes on premiums, ..... 

Insurance department licenses and fees, . 
Dividends to stockholders, ..... 

Agents' balances charged off, ..... 

Gross loss on sale or maturity of bonds, . 

All other disbursements, ..... 

Total disbursements, ..... 

Balance, ....... 

Ledger Assets. 
Book value of real estate, . . . . 
Mortgage loans on real estate, .... 

Book value of stocks and bonds (Schedule A), . 
Cash in office, ....... 



$497,989 87 
819,399 78 

$1,317,389 65 



$321,648 85 

8,341 39 

151,940 47 

22,571 11 

48,453 20 

5,471 68 

6,642 06 

4,378 75 

1,877 98 

2,360 46 

301 50 

3,132 08 

2,044 29 

530 01 

8 96 

9,204 31 

7,174 32 

18,000 00 

93 20 

165 60 

1,887 78 

$616,228 00 

$701,161 65 



$100 00 

86,910 00 

445,857 64 

4,784 82 



• Paid-up capital, Dec. 31, 1911, 

Reduction in capital during 1912 without distribution of assets, 



§400,000 00 
200,000 00 



Paid-up capital, Dec. 31, 1912 $200,000 00 



170 



CENTRAL NATIONAL FIRE INSURANCE CO. 



Deposits in trust companies and banks not on interest, 
Deposits in trust companies and banks on interest, 
Agents' balances, ...... 

Bills receivable, ...... 

Premium on mortgage purchased, . 
Advances to special agents, .... 

Total ledger assets, ....... 

Xox-Ledger Assets. 
Interest accrued on : — 
Mortgages, $2,237.56; bonds, 88,341.97; other assets, $36.91, 
Furniture, fixtures and maps, ....... 

Due from other companies, ....... 

Gross assets, ......... 

Assets not admitted. 

Furniture, fixtures and maps, .... SI 0,553 86 

Agents' balances over three months due, . . . 1,604 64 

Bills receivable, past due, taken for premiums, . 851 82 

Book value of stocks and bonds over market value, . 8,274 64 

Premium on mortgage purchased, . . . . 67 76 

Due from unauthorized companies, .... 1,764 32 

Advances to special agents, ..... 75 00 

Admitted assets, . . . "\ 

Liabilities". 
Unpaid losses, including S4,450 resisted, $60,364.32; less reinsur- 
ance, $3,677.50, 

Unearned premiums on outstanding risks, 
Salaries, expenses and accounts, due or accrued, 
Federal, state and other taxes, due or accrued, 
Due for reinsurance, ..... 



Total, 

Cash capital, ...... 

Surplus over all liabilities, .... 

Surplus to policy holders, . . . . — 

Total liabilities, including surplus, 

Risks and Premiums. 



S200,000 00 
84,771 17 



Fire risks in force Dec. 31, 1911, 
Fire risks written during the year, 

Total, . 
Expired and terminated, 

In force at end of year, . 
Deduct amount reinsured, 

Xet amount in force, 



Risks. 

$50,668,326 00 
52,977,755 00 

$103,646,081 00 
39,738,456 00 

$63,907,625 00 
8,245,505 00 



$382 89 

68,616 49 

82,530 73 

11,836 32 

67 76 

75 00 

$701,161 65 



10,616 44 

10,553 86 

1,803 77 

$724,135 72 



23,192 04 
$700,943 68 

$56,686 82 

342.708 42 

262 41 

5,000 00 

11,514 86 

$416,172 51 

284.771 17 
$700,943 68 



Premiums. 

$579,186 49 
703.147 17 

$1,282,333 66 
550,173 19 

$732,160 47 



$55,662,120 00 $643,681 59 



CENTRAL NATIONAL FIRE INSURANCE CO. 



171 



Miscellaneous. 

Net premiums received from organization of company, 

Net losses paid from organization of company, 

Cash dividends declared from organization of company, 

Fire losses incurred during the year, 

Dividends declared during the year, 

Par value of company's stock owned by directors, 



,587,150 53 

862,629 16 

30,000 00 

337,731 58 

18,000 00 

64,237 50 



Schedule A. Stocks and Bonds owned by the 



sch. 5s, 1925-26, 
sch. 5s, 1927-29, 
sch. 5s, 1930-31, 



Stocks. 
100 shares Merchants <fe Mfrs. Bank, Mil., Wis 
1 share Western Adjust. & Inspection Co., 
County and Municipal Bonds. 
Aurora, 111., 4|s, 1924, 
Aurora, 111., 4£s, 1925-29, 
Aurora, 111., 4£s, 1930-31, 
Batavia, 111., 4§s, 1929, . 
Batavia, 111., 4§s, 1930-31, 
Bureau Co., Aris. & Ind. Tp., Ill 
Bureau Co., Aris. & Ind. Tp., Ill 
Bureau Co., Aris. & Ind. Tp., Ill 
Bushnell, 111., 5s, 1920-23, 
Carmi, 111., 5s, 1914, 
Carmi, 111., 5s, 1915-16, . 
Chicago, 111., 4^s, 1924, . 
Chicago, 111., 4s, 1930, 
Chicago, 111., 4£s, 1918, . 
Christian County, 111., 4|s, 1923-27, . 
Cook County, 111., school district 4£s, 1918, 
Cook County, 111., school district 4|s, 1924, 
Cook Co., 111., Calumet Park dist. 5s, 1928-32, 
Cook & Will Cos., 111., sch. district 5s, 1921, 
Cook & Will Cos., 111., sch. district 5s, 1922-23, 
Cook & Will Cos., 111., sch. district 5s, 1924-26, 
Cook & Will Cos., 111., sch. district 5s, 1927-28, 
Crystal Lake, 111., 5s, 1916-18, . 
Crystal Lake, 111., 5s, 1919-20, . 
Douglas Co., 111., 5s, 1917-18, . 
Douglas Co., 111., 5s, 1919-20, . 
East St. Louis, 111., 4§s, 1928, . 
Edgar Co., 111., school district 5s, 1913, 
Edgar Co., 111., school district 5s, 1914-15, 
Edgar Co., 111., school district 5s, 1916-18, 
Edgar Co., 111., school district 5s, 1919-20, 
Edgar Co., 111., school district 5s, 1921, 
Fernwood Park district, 111., 4 is, 1918-27, 
Franklin Co., III., school district 5s, 1920, 
Franklin Co., 111., school district 5s, 1921-23, 
Herrin, 111., 5s, 1929-30, . 
Kane Co., 111., school district 4|s, 1926-27, 
Kane Co., 111., school district. 4s, 1931, 
Kankakee Co., 111., school district 5s, 1913, 
Kankakee Co., 111., school district 5s, 1914-15, 
Kankakee Co., 111., school district 5s, 1916, 
Kankakee Co., III., school district 5s, 1917-18, 
Kankakee Co., 111., school district 5s, 1919-21, 
Kankakee Co., 111., school district 5s, 1922-23, 
Kankakee Co., 111., school district 5s, 1924-26, 
Kankakee Co., 111., school district 5s, 1927-29, 
Kankakee Co., 111., school district 5s, 1930-31, 
Kew Valley drain, dist. (Wy. Co., Kan.) 5s, 1940 
La Salle Co., 111., school district 4|s, 1923-25, 
La Salle Co., 111., school district 4£s, 1926, . 
Lawrence Co., 111., school district 6s, 1913, . 
Lawrence Co., 111., school district 6s, 1914, . 
Lawrence Co., 111., school district 6s, 1915, . 



Book Value. 

$6,000 00 

200 00 



10,289 85 
5,191 40 

7,659 40 

10,861 20 
10,218 45 

16,087 50 

16,978 75 

5,240 00 

5,125 60 

3,107 10 

10,338 00 

10,869 80 

8,498 60 

5,176 00 

5,229 00 
10,787 50 

9,243 10 \ 

6,563 00 
9,255 11 1 

4,867 55 
5,170 00 
9,850 00 



9,971 25 



10,392 50 
10,307 20 

13,707 60 



Company. 

Rate. Market Value. 

114 $5,700 00 

200 200 00 



103 
104 
105 
101 
102 
106 
107 
108 
102 
100 
101 
103 

98 
102 
100 
102 
103 
106 
104 
105 
106 
107 
102 
103 
102 
103 
103 
100 
101 
102 
103 
104 
100 
103 
104 
106 
103 

98 
100 
101 
102 
103 
104 
105 
106 
107 
108 
103 
102 
103 
101 
102 
104 



00 
00 
00 
00 
00 
00 
00 
00 



1,545 

5,720 

3,150 

1,010 

4,080 

2,120 

3,210 

2,160 
10,710 00 

1,000 00 

9,090 00 
15,450 00 
16,660 00 

5,100 00 

5,000 00 

3,060 00 
10,300 00 
10,600 00 

1,040 00 

2,100 

3,180 

2,140 

3,060 

2,060 

2,040 

3,090 
10,300 

1,000 

2,020 00 

3,060 00 

2,060 

1,040 

6,500 

2,060 

7,176 

4,770 

5,150 

9,800 00 
500 00 

1,010 
510 

1,030 

1,560 

1,050 

1,590 

1,605 

1,080 
10,300 

7,140 

3,090 

3,030 

5,100 

5,200 



00 
00 
00 
00 
00 
00 
00 
00 
00 



00 
00 
00 
00 
00 
00 
00 



00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 



172 



CENTRAL NATIONAL FIRE INSURANCE CO. 



Maroa, 111., 5s, 1915, 

Maroa, 111., 5s, 1916-17, 

Maroa, 111., 5s, 1918, 

Maroa, 111., 5s, 1919, 

Marseilles, 111., 5s, 1916, 

Marseilles, 111., 5s, 1917-18, 

Marseilles, 111., 5s, 1919, . 

Mattoon Township 4s, 1931, 

New York, N. Y., 4s, 1959, 

Oak Park, 111., 4§s, 1919, 

Oak Park, 111., 4*s, 1923, 

Oak Park, 111., 4k 1930, 

Oklahoma City, Okla., 5s, 1934, 

Pana, 111., 4s, 1918, . 

Peoria, 111., 4s, 1926-28, 

Rockford, 111., 4s, 1929, 

Rossville, 111., 6s, 1920, 

Rossville, 111., 6s, 1921-22, 

Rossville, 111., 6s, 1923, 

Rossville, 111., 6s, 1924, 

St. Clair Co., 111., drainage district 5s, 1913-14, 

St. Clair Co., 111., drainage district 5s, 1921-24, 

Saline Co., 111., school district 5s, 1913, 

Saline Co., 111., school district 5s, 1914-15, 

Saline Co., 111., school district 5s, 1916-18, 

Saline Co., 111., school district 5s, 1919-20, 

Saline Co., 111., school district 5s, 1921, 

Silvis, 111., school district 5s, 1913-14, 

Silvis, 111., school district 5s, 1915-16, 

Stronghurst, 111., 5s, 1915, . 

Stronghurst, 111., 5s, 1916, 

Stronghurst, 111., 5s, 1917-18, . 

Stronghurst, 111., 5s, 1919-20, . 

Toulon, 111., 5s, 1921-24, . 

Toulon, 111., 5s, 1925-27, . 

Toulon, 111., 5s, 1928-30, . 

Union Co., 111., school district 5s, 1913, 

Union Co., 111., school district 5s, 1914, 

school district 5s, 1915-16, 
school district 5s, 1917-18, 
school district 5s, 1919-20, 
school district 5s, 1921-22, 
school district 5s, 1923-24, 
school district 5s. 1925, 



111. 
111. 
111. 
111. 
111. 
111. 
111. 



Union Co 
Union Co 
Union Co 
Union Co 
Union Co 
Union Co 
Vermillion Co 
Vermillion Co 
Westchester Co., N 
"Westchester Co., N 
Williamson Co., ill. 
Williamson Co., 111. 



111. 
111. 



school district 5s, 1919-20, 
school district 5s, 1921-22, 
. Y., sch. district 4s, 1913-15, 
. Y., sch. district 4s, 1916, 
, sch. district 4|s, 1914-16, 
, sch. district 4£s, 1917-23, 

Railroad Bonds. 
Waterloo, Cedar Falls & North. 1st 5s, 1940, 
Western Ohio 1st 5s, 1921, 
Wichita Falls & N. W. of Okla. 5s, 1940, . 

Miscellaneous Bonds. 
Butte Electric & Power Co. 1st 5s, 1951, 
Consumers Power Co. 1st 5s, 1936, 
Craig Mt. Lumber Co. 6s, 1918, 
Kentucky Electric Co. 1st 5s, 1926, 
Milwaukee Western Fuel Co. 5s, 1916, 
Peoples Gas Light & Coke Co. 5s, 1947, 
Union Elec. Lt. & P. Co., St. Louis, 5s, 1933, 
Western States Gas & Elec. Co. 1st 5s, 1941, 



Book Value. 
$5,166 30 

10,487 50 

9,750 00 
5,028 12 

10,262 60 

5.359 00 

7,847 20 

10,312 50 

10,325 00 

5,525 50 

5,106 50 
10,592 50 

4,886 40- 

2,070 00 
5,728 86 

10,728 00 



13,080 70 { 

5,250 00 

3,968 00 

10,450 00 { 

4,782 50 
1,890 00 

4,875 00 

5,000 00 
75 00 

5,500 00 
9,700 00 
500 00 
5,175 00 
4,950 00 
9,500 00 



Rate. 
101 
102 
103 
104 
102 
103 
104 
97 
96 
101 
102 
103 
104 
98 
97 
99 
106 
107 
108 
109 
100 
101 
100 
101 
102 
103 
104 
100 
101 
101 
102 
103 
104 
104 
105 
106 
100 
101 
102 
103 
104 
105 
106 
107 
103 
104 
100 
99 
100 
101 

94 
93 

96 

96 
100 

96 
100 
101 

97 

94 



Market Value. 

$1,010 00 
2,040 00 
1,030 00 

1,040 00 

1,020 00 

6,180 00 

3,120 00 

9,700 00 

4,800 00 

3,030 00 

4,080 00 

3,090 00 

5,200 00 

7,840 00 

9,700 00 

9,900 00 

1,060 00 

2,140 00 

1,080 00 

1,090 00 

5,000 00 

10,100 00 

300 00 

606 00 
918 
1,133 

1,000 
1,010 

808 

816 

4,160 

3,150 

3,180 

1,000 

1,010 

2,040 

2,060 

2.0S0 

2,100 00 

2,120 00 

535 00 
2,57.- 
2,600 
3,000 

990 
3,000 00 
7,070 00 



00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 



00 
00 
00 
00 



4.700 00 

00 

4,900 00 

4,800 00 
4,800 00 
5,500 00 
9,600 00 
500 00 
5,050 00 
4.850 00 
9,400 00 



$445,857 64 



8437.583 00 



CITIZENS INSURANCE CO. OF MISSOURI. 



173 



CITIZENS' INSURANCE COMPANY OF MISSOURI, ST. LOUIS, MO. 

Incorporated Feb. 2, 1837. Commenced business February, 1837. 

Paid-up Capital, $200,000. 

CHARLES E. CHASE, President. P. O. CROCKER, Secretary. 

Home Office, 1101 Pierce Building. 

Income. 
Net fire premiums, $502,234.99; marine, $9,079.96, . . . $511,314 95 
Gross interest on mortgages, $4,860; stocks and bonds, $24,214.50; 

bank deposits, $1,454, 30,528 50 

From all other sources, ........ 32 69 

Total income, ...... 

Ledger assets, Dec. 31, 1911, ..... 

Total, 

Disbursements. 

Net amount paid policy holders for fire losses, . 
Expenses of adjustment and settlement of losses, 
Commissions or brokerage, ..... 

Salaries and expenses of special and general agents, . 

Salaries, fees, etc., of officers and employees, 

Rents, ......... 

Advertising, printing and stationery, 

Postage, telegrams, telephone and express, 

Legal expenses, ....... 

Furniture and fixtures, ...... 

Maps, including corrections, ..... 

Underwriters' boards and tariff associations, 

Fire department, patrol and salvage corps fees and taxes, 

Inspections and surveys, ..... 

State taxes on premiums, ..... 

Insurance department licenses and fees, . 

Other licenses, fees and taxes, .... 

Dividends to stockholders, ..... 

Agents' balances charged off, ..... 

All other disbursements, ..... 

Total disbursements, ..... 

Balance, ....... 

Ledger Assets. 
Mortgage loans on real estate, .... 

Book value of stocks and bonds (Schedule A), . 
Deposits in trust companies and banks not on interest, 
Deposits in trust companies and banks on interest, . 
Agents' balances, ....... 

Total ledger assets, ..... 



• 


. $541,876 14 
876,583 14 


. $1,418,459 28 




$336,943 99 

6,798 72 




92,723 66 
29,413 18 




7,207 86 
1,845 27 
4,722 77 




4,127 29 




423 84 




358 17 




319 63 




9,346 14 
2,413 23 




333 70 




10,421 85 




4,484 36 
5,532 93 




24,000 00 
103 41 




258 73 


$541,778 73 


$876,680 55 




. $97,200 00 

570,493 75 

26,743 07 

112,059 56 

70,184 17 




$876,680 55 



174 



CITIZENS INSURANCE CO. OF MISSOURI. 



Non-Ledger Assets. 
Interest accrued on : — 
Mortgages, 61,168.16; bonds, $9,519.80, . 

Gross assets, ...... 

Assets not admitted. 
Agents' balances over three months due, 
Book value of stocks and bonds over market value, 

Admitted assets,* ..... 



$2,596 89 
22,638 75 



Liabilities. 

Unpaid losses, including $24,342.49 resisted, $211,729.13; less 
reinsurance, $157,597.30, ....... 

Unearned premiums on outstanding risks, . 
Salaries, expenses and accounts, due or accrued, 
Federal, state and other taxes, due or accrued, 



Total, 

Cash capital, ..... 

Surplus over all liabilities, .... 
Surplus to policy holders, . . . . — 

Total liabilities, including surplus, 

Risks and Premiums. 



S200,000 00 
158,833 45 



Fire risks in force Dec. 31, 1911, 
Fire risks written during the year, 

Total, .... 
Expired and terminated, 

In force at end of year, . 
Deduct amount reinsured, 

Net amount in force, 



Marine risks written during the year, 
Expired and terminated, 

In force at end of year, . 



Risks. 



$10,687 96 
$887,368 51 



25,235 64 
S862,132 87 

$54,131 83 

442,492 59 

2,000 00 

4,675 00 

S503,299 42 

358,833 45 
S862,132 87 

Premiums. 



$223,938,103 00 $2,819,411 47 
173,720,368 00 2,085,333 01 



$397,658,471 00 $4,904,744 4S 
147,872,447 00 2,024,216 59 



$249,786,024 00 $2,880,527 89 
175,087,626 00 2,051,735 68 

$74,698,398 00 $828,792 21 



S45S.070 00 
158,765 00 



$10,313 64 
2,074 75 



S299,305 00 $8,238 89 



Miscellaneous. 
Net premiums received from organization of company, 
Net losses paid from organization of company, 
Cash dividends declared from organization of company. 
Stock dividends declared from organization of company. 
Fire losses incurred during the year, 
Dividends declared during the year (12 per cent.), 
Par value of company's stock owned by directors, 



$12,642,779 66 

7.354,949 30 

1,087,798 00 

165,000 00 

341.256 24 

24,000 00 

900 00 



* These assets include deposits in this country amounting to $19,695, which the company has made 
for the protection of certain policy holders. Liabilities of §37,743.86 have accrued against these deposits, 
which are included in the total liabilities of the company. 



CITIZENS FIRE INSURANCE CO. 



175 



Schedule A. Stocks and Bonds owned by the 



Miscellaneous Stocks. 
1 share General Adjust. Bureau, New York, 
3 shares Southern Adjust. Bureau, Atlanta, 
5 " Underwriters' Salvage Co., Chicago, 
1 share West. Adjust. & lnspec. Co., Chicago, 

State and Municipal Bonds. 
Georgia 3§s, 1918, . 
New York, N. Y., 4Js, 1960, op. 1930 
Richmond, Va., 4s, 1943, . 
St. Louis, Mo., 4s, 1928, . 
Virginia 3s, 1991, 

Railroad Bonds 
Atlantic Coast Line (L. & N. col.) 4s, 1952, 
Baltimore & Ohio (Southwest Div.) 1st 3|s, 1925 
Brooklyn Union Elevated 1st 5s, 1950, 
Chesapeake & Ohio 1st cons. 5s, 1939, 
Elgin, Joliet & Eastern 1st 5s, 1941, . 
International & Great Northern 1st 6s, 1919, 
Iowa Central 1st 5s, 1938, 
Louisville, Henderson & St. Louis 1st 5s, 1946, 
Mo. Pac. 1st cons. 6s, 1920, 
N. Y., N. H. & Hartford conv. deb. 6s, 1948, 
Southern (Memphis Div.) 1st 5s, 1996, 



Book Value. 
$50 00 
150 00 
500 00 
125 00 

9,900 00 

5,100 00 

992 50 

108,581 25 

9,765 00 

24,000 00 
67,875 00 
50,500 00 
47,500 00 
28,500 00 
57,765 00 
28,656 25 
37,187 50 
17,475 00 
39,477 50 
36,393 75 

$570,493 75 



Company. 

Rate. Market Value. 

100 $50 00 

100 150 00 

100 500 00 

200 200 00 



98 
100 

97 
100 

85 

92 
91 
101 
110 
108 
107 
98 
108 
106 
125 
107 



9,800 00 

5,000 00 

970 00 

105,000 00 

8,925 00 

23,000 00 

68,250 00 

50,500 00 

44,000 00 

27,000 00 

51,360 00 

24,500 00 

37,800 00 

15,900 00 

37,500 00 

37,450 00 



$547,855 00 



CITIZENS FIRE INSURANCE COMPANY, CHARLES TOWN, W. VA. 

Incorporated Jan. 25, 1907. Commenced business April 1, 1907. 

Cash Capital, $545,000. 

R. W. ALEXANDER, President. W. W. ALEXANDER, Secretary. 

Home Office, Charles Town, W. Virginia, Executive Offices, Fidelity Building, 

Baltimore, Md. 



Income. 
Net fire premiums, ........ 

Gross interest on mortgages, $10,889.26; stocks and bonds, 

$17,067.50; bank deposits, $908.90; all other, $15.60, . 
Gross increase in book value of stocks and bonds, 
Premium on increase in capital, ...... 

Total income, ........ 

Ledger assets, Dec. 31, 1911, plus $220,000 increase in capital, . 

Total, 

Disbursements. 
Net amount paid policy holders for fire losses, . 
Expenses of adjustment and settlement of losses, 
Commissions or brokerage, .... 

Agency expenses, ...... 

Salaries and expenses of special and general agents, 
Salaries, fees, etc., of officers and employees, 
Rents, ........ 

Advertising, printing and stationery, 
Postage, telegrams, telephone and express, 
Legal expenses, ...... 

Furniture and fixtures, ..... 



$446,707 92 

28,881 26 

2,706 70 

154,000 00 

$632,295 88 
853,079 63 



$1,485,375 51 


$203,067 50 

5,336 65 

110,815 32 

199 38 


28,768 40 


24,197 40 


2,574 97 


5,551 25 

3,497 04 

75 24 


1,453 90 



176 



CITIZENS FIRE INSURANCE CO. 



Maps, including corrections, ..... 

Underwriters' boards and tariff associations, 

Fire department, patrol and salvage corps fees and taxes, 

Inspections and surveys, ..... 

State taxes on premiums, ..... 

Insurance department licenses and fees, . 

Other licenses, fees and taxes, .... 

Dividends to stockholders, ..... 

Agents' balances charged off, ..... 

Gross decrease in book value of stocks and bonds, 

All other disbursements, ..... 

Total disbursements, ..... 

Balance, ....... 

Ledger Assets. 
Mortgage loans on real estate, .... 

Book value of stocks and bonds (Schedule A), . 
Cash in office, ....... 

Deposits in trust companies and banks not on interest, 
Deposits in trust companies and banks on interest, . 
Agents' balances, ....... 

Deposits with underwriting boards, 

Total ledger assets, ..... 

Non-Ledger Assets. 
Interest accrued on : — 
Mortgages, $2,384; bonds, 83,422.36, 
Market value of stocks and bonds over book value, . 



Gross assets, 



$1,652 43 
3,246 92 
2,811 17 
791 75 
4,055 56 
5,025 43 
6,349 99 

32,500 00 

159 16 

5,857 84 

3,118 39 

$451,105 69 

Sl,034,269 82 



$192,261 00 

394,907 50 

480 38 

367,121 45 

14,037 33 

65,262 16 

200 00 

$1,034,269 82 



5,806 36 
22 50 

$1,040,098 68 



Assets not admitted. 



Agents' balances over three months due, 
Deposits with underwriting boards, . 



$1,464 77 
200 00 



1,664 



1 1 



Admitted assets, 5 



Liabilities. 



Unpaid losses, $101,286.84; less reinsurance, $24,747.91, 
Unearned premiums on outstanding risks, 
Salaries, expenses and accounts, due or accrued, 
Federal, state and other taxes, due or accrued, 
Commissions and other charges due agents and brokers, 



$1,038,433 91 

$76,538 93 
342,781 31 

662 15 
5,300 00 

995 46 

' $426,277 So 

612,156 06 
$1,038,433 91 

* These assets include deposits in this country amounting to $25,100, which the company has made 
for the protection of certain policy holders. Liabilities have accrued against these deposits, wnich are 
included in the total liabilities of the company. The excess of these deposits over corresponding liabilities 
is $4,098.66, which is included in the surplus and is subject to a hen under the conditions ot the special 
deposit, which, in certain contingencies, would, it should be noted, remove said excess from tne tunas 
available to pay the claims of general policy holders. 



Total, 

Cash capital, .... 

Surplus over all liabilities, 
Surplus to policy holders, 

Total liabilities, including surplus, 



$545,000 00 
67,156 06 



CITIZENS FIRE INSURANCE CO. 



177 



Fire risks in force Dec. 31, 1911, 
Fire risks written during the year, . 
Excess premiums on account of reinsurance, 

Total, 

Expired and terminated, 

In force at end of year, .... 
Deduct amount reinsured, 

Net amount in force, 



Risks and Premiums. 

Risks. 

$33,931,339 00 
70,770,463 00 



Premiums. 

$419,495 28 
673,401 12 
167,669 04 



$104,701,802 00 $1,260,565 44 
41,542,553 00 503,443 54 



$63,159,249 00 $757,121 90 
10,027,988 00 114,210 14 



$53,131,261 00 $642,911 76 



Miscellaneous. 

Net premiums received from organization of company, 

Net losses paid from organization of company, 

Cash dividends declared from organization of company, 

Fire losses incurred during the year, 

Dividends declared during the year, 

Par value of company's stock owned by directors, 



$1,209,340 29 

542,599 54 

65,232 25 

243,708 68 

32,500 00 

95,100 00 



Schedule A. Stocks and Bonds owned by the Company. 



Bank Stocks. 
40 shares Baltimore Trust Co., . 
40 " Mercantile Trust & D. Co., Baltimore, 
40 " Merchants National, Baltimore, . 

Miscellaneous Stocks. 
25 shares Cons. Gas, El. Lt. & P. Co., pref., 

County and Municipal Bonds. 
Atlanta, Ga., 4|s, 1929, . 
Brunswick, Ga., 5s, 1921, . 
Buffalo, N. Y., 4s, 1958, . 
Charleston, W. Va., 4is, 1942, 
Charleston, W. Va., 4s, 1922, 
Charles Town, W. Va., 5s, 1927, 
Charles Town, W. Va., 5s, 1945, 
Charlotte, N. C, 5s, 1918-20, 
Clarke County, Va., 4s, 1930, 
Clarksburg, W. Va., 4Js, 1939, 
Clarksburg, W. Va., 4s, 1931, 
Elkins, W. Va., 5s, 1930, . 
Fairmount, W. Va., 4|s, 1936, 
Hinton, W. Va., 6s, 1941, . 
Huntington, W. Va., 5s, 1937, 
Ithaca, N. Y., 4§s, 1928, . 
Martinsburg, W. Va., 5s, 1943, 
New York, N. Y., 4hs, 1957, 
New York, N. Y., 4Js, 1960, 
New York, N. Y., 4s, 195S, 
Oswego, N. Y., 4£s, 1920, . 
Roanoke, Va., 4|s, 1936, . 
Roanoke County, Va., 5s, 1939, 
Salisbury, N. C, 5s, 1929, 
Troy, N. Y., 4s, 1915, 
Utica, N. Y., 4s, 1925, 
Washington County, Va., 6s, 1933, 
Washington County, Va., 6s, 1934, 
Washington County, Va., 6s, 1935, 
Watertown, N. Y., 4s, 1938, 
Wheeling, W. Va., 4|s, 1931, 
Wheeling, W. Va., 4s, 1930, 



Book Value. 

$6,560 00 

6,200 00 

9,080 00 

2,800 00 

10,300 00 
5,150 00 
4,850 00 

10.100 00 
4,900 00 
1,545 00 

15,225 00 
5,100 00 
4,700 00 

15,150 00 
1,900 00 
1,000 00 
6,000 00 
2,825 00 
5,250 00 
5,000 00 

15,600 00 

10,500 00 
5,000 00 
4,800 00 

10,200 
4,950 
5,150 
5,150 

10,000 00 
4,900 00 
6,500 00 
2,050 00 
1,552 50 
4,900 00 
7,070 00 
5,000 00 



00 
00 
00 
O'J 



Rate. 
328 
310 
227 

112 

103 
103 

97 
101 

98 
103 
102 
102 

94 
101 

95 
100 
100 
113 
105 
100 
104 
105 
100 

96 
102 

99 
103 
103 
100 

98 
100 
101 
102 

98 
101 
100 



Market Value. 

$6,560 00 

6,200 00 

9,080 00 

2,800 00 

10,300 00 

5,150 00 

4,850 00 
10,100 00 

4,900 00 

1,545 
15,300 

5,100 

4,700 
15,150 

1,900 

1,000 

6,000 

2,825 

5,250 

5,000 
15,600 
10,500 00 

5,000 00 

4,800 00 
10,200 00 

4,950 00 

5,150 

5,150 
10,000 

4,900 

6,500 

2,020 

1,530 

4,900 

7,070 



00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 



00 
00 
00 
00 
00 
00 
00 
00 
00 



5,000 00 



178 



CITY OF NEW YORK INSURANCE CO. 



Railroad Bonds. 
Alabama & Gt. Southern 1st ext. 5s, 1927, 
Aurora, Elgin & Chicago ref. 5s, 1946, 
Chattanooga 5s, 1956, 
Chicago City & Connecting Rys. 5s, 1927, 
Chicago Rys. Co. 5s, 1927, 
Coal & Coke 5s, 1919, 

Fairmont & Clarksburg Trac. Co. 5s, 1938, 
Ft. Worth & Denver City 6s, 1921, 
Georgia & Alabama 5s, 1945, 
Houston Electric Co. 5s, 1925, . 
Maryland Elec. Rys. Co. 5s, 1931, 
Mason City & Ft. Dodge 4s, 1955, 
Missouri Pacific 5s, 1920, . 
Missouri Pacific equip. 5s, 1916, 
Montreal Tramways ref. 5s, 1941, 
New York Central equip. 4|s, 1918, 
New York, Susquehanna & Western 5s, 1937, 
Norfolk & Portsmouth Traction 5s, 1936, 
Norfolk Ry. & Light Co. 5s, 1949, 
Seaboard Air Line 4s, 1950, 
St. Louis & San Francisco equip. 5s, 1916, 
St. Louis & Southwestern equip. 5s, 1917, 
St. Louis, Iron Mt. & Southern 5s, 1931, 
Terre Haute Traction & Lt. Co. 5s, 1944, 
Texas & Pacific (La. Div.) 5s, 1931, . 
Texas & Pacific equip. 5s, 1916, 
United Rys. of St. Louis 4s, 1934, 
Virginia Ry. & Power Co. ref. 5s, 1934, 
Washington & Vandermere 4^s, 1947, 

Miscellaneous Bonds. 
Baltimore Electric Co. 5s, 1947, 
Charles Town Water Co., W. Ya., 5s, 1938, 
Consolidation Coal Co. 5s, 1950, 
Merchants & Miners Trans. Co. 5s, 1914, 



Book Value. 


Rate. 


Market Value. 


$5,350 00 


107 


$5,35 


4,750 00 


95 


4,750 00 


4,800 00 


96 


4,800 00 


4,450 00 


89 


4,450 00 


4,950 00 


99 


4,950 00 


4,750 00 


95 


4,750 00 


5,000 00 


100 


5,000 00 


5,350 00 


107 


5,350 00 


5,250 00 


105 


250 00 


4,950 00 


99 


4,950 00 


4,900 00 


98 


4,900 00 


3,500 00 


70 


500 00 


4,900 00 


98 


4,9«" 


4,950 00 


99 


4,950 00 


5,000 00 


100 


5,00 


4,950 00 


99 


4,950 00 


5,050 00 


101 


5,050 00 


4,600 00 


92 


4,600 00 


5,000 00 


100 


>0 00 


8,600 00 


86 


8,600 00 


5,000 00 


100 


5,000 00 


5,000 00 


100 


5,000 00 


5,250 00 


105 


5,250 00 


4,950 00 


99 


4,950 00 


4,900 00 


98 


4,900 00 


4,950 00 


99 


4,950 00 


3,700 00 


74 


3,700 00 


4,750 00 


95 


4.750 00 


4,750 00 


95 


4,750 00 


4,850 00 


97 


4,850 00 


4,000 00 


80 


4,000 00 


9,800 00 


98 


9,800 00 


5,000 00 


100 


5,000 00 


S394,907 50 


$394,930 00 



CITY OF NEW YORK INSURANCE COMPANY, NEW YORK. N. Y 

Incorporated April, 1905. Commenced business April 12, 1905. 

Paid-up Capital, $500,000. 

MAJOR A. WHITE, President. J. CARROLL FRENCH, Secretary. 

Home Office, Maiden Lane and William Street. 



Income. 

Net fire premiums, ........ 

Gross interest on mortgages, SI 1,340; stocks and bonds, 

$44,115.87; bank deposits, 81,213, . . . ~ . 

Agents' balances previously charged off, ..... 

Gross profit on sale or maturity of bonds, .... 

Total income, ........ 

Ledger assets, Dec. 31, 1911, ....... 

Total, 

Disbursements. 

Net amount paid policy holders for fire losses, . 
Expenses of adjustment and settlement of loss 
Commissions or brokerage, .... 
Salaries and expenses of special and general agents. 
Salaries, fees, etc., of officers and employees, 



8600,484 47 

56,66s " 

21 50 

1,162 S3 

8658.337 67 

1,543.958 95 

82.202.296 62 



8316.841 41 

6,682 62 

124.631 41 

23.134 74 

62,509 37 



CITY OF NEW YORK INSURANCE CO. 



179 



Rents, ... ..... 

Advertising, printing and stationery, 

Postage, telegrams, telephone and express, 

Legal expenses, ....... 

Furniture and fixtures, ...... 

Maps, including corrections, ..... 

Underwriters' boards and tariff associations, 

Fire department, patrol and salvage corps fees and taxes, 

Inspections and surveys, ..... 

State taxes on premiums, . . 

Insurance department licenses and fees, . 

Other licenses, fees and taxes, .... 

Dividends to stockholders, ..... 

Agents' balances charged off, ..... 

Gross loss on sale of bonds, ..... 

All other disbursements, ..... 

Total disbursements, ..... 

Balance, ....... 

Ledger Assets. 

Mortgage loans on real estate, .... 

Book value of stocks and bonds (Schedule A), . 
Cash in office, ....... 

Deposits in trust companies and banks not on interest, 
Deposits in trust companies and banks on interest, 
Agents' balances, ....... 



Total ledger assets, .... 

Non-Ledger Assets. 
Interest accrued on : — 
Mortgages, $1,957.50; bonds, $4,363.95, . 

Gross assets, ...... 

Assets not admitted. 
Agents' balances over three months due, 
Book value of stocks and bonds over market value, 

Admitted assets,* ..... 





. $12,513 50 




6,806 08 




5,262 74 




162 62 




1,781 08 




3,277 45 




6,953 00 




3,615 73 




2,756 32 




12,989 57 




4,212 17 




2,493 16 




50,000 00 




934 95 




31 25 




3,426 07 


$651,015 24 


$1,551,281 38 


. $246,000 00 




1,036,845 38 




5,858 35 




25,220 98 




79,360 72 




157,995 95 




$1,551,281 38 



6,321 45 



$4,854 
81,130 



16 

38 



$1,557,602 83 



85,984 54 



. $1,471,618 29 



Liabilities. 
Unpaid losses, including $14,860 resisted, $76,584; less reinsur- 
ance, $50,710.72, 

Unearned premiums on outstanding risks, 
Dividends declared and unpaid to stockholders, 
Salaries, expenses and accounts, due or accrued, 
Federal, state and other taxes, due or accrued, 
Due for reinsurance, ..... 

Total, 



$25,873 28 

584,000 24 

12,500 00 

1,000 00 

7,500 00 

52,559 87 

$683,433 39 



These assets include deposits in this country amounting to §10,800, which the company has made 
for the protection of certain policy holders. Liabilities of $22,548.01 have accrued against these deposits, 
which are included in the total liabilities of the company. 



180 



CITY OF NEW YORK INSURANCE CO. 



),000 00 
288,184 90 



Cash capital, ...... 

Surplus over all liabilities, .... 

Surplus to policy holders, . . . . — 

Total liabilities, including surplus, 

Risks and Premiums. 

Risks. Premiums. 

Fire risks in force Dec. 31, 1911, . . $136,657,564 00 $1,315,996 60 



$788,184 90 
. $1,471,618 29 



Fire risks written during the year, 

Total, .... 
Expired and terminated, 

In force at end of year, . 
Deduct amount reinsured, 

Xet amount in force, 



125,044,310 00 1,178,18* 

$261,701,874 00 $2,494,177 34 
98,860,066 00 947,942 35 

$162,841,808 00 $1,546,234 99 
48,326,436 00 488,367 19 



$114,515,372 00 $1,057,867 80 



Miscellaneous. 
Xet premiums received from organization of company, 
Net losses paid from organization of company, 
Cash dividends declared from organization of company. 
Fire losses incurred during the year, 
Dividends declared during the year (10 per cent.), 
Par value of company's stock owned by directors, 



$3,277,233 23 

1,483,236 11 

170,000 00 

292,431 55 

50,000 00 

76,900 00 



Schedule A. Stocks and Bonds owned by the Company. 



Railroad Stocks. 
300 shares Baltimore & Ohio, 
500 " Chesapeake & Ohio, . 
500 " Chicago, Milwaukee & St. Paul, 
300 " Delaware & Hudson, 
300 " Erie 1st preferred, . 
500 " Great Northern preferred, . 
100 " Great Northern Iron Ore ctfs., 
400 " Lehigh Valley, . 
200 " Louisville & Nashville, 

40 " Louisville & Nashville 20% paid 
100 " Manhattan, New York, N. Y., 
200 " Northern Pacific, 
400 " Southern Pacific, 
300 " Union Pacific, . 

Miscellaneous Stocks. 

450 shares Consol. Gas Co., New York, N. 

200 " Lehigh Valley Coal Sales Co. 
1,000 " Maiden Lane & Wm. St. Co., N. 1 

State and Municipal Bonds. 
New York State Canal improvement 3s, 1959, 
New York, N. Y., 3|s, 1954, 
Rochester, N. Y., note 4£s, 1913, 
Savannah, Ga., 4^s, 1959, .... 

Railroad Bonds. 
Chicago, Mil. & St. Paul conv. 4§s, 1932, . 
Chicago, Rock Is. & Pacific 4s, 2002, . 
Interborough Metropolitan col. 4is, 1956, . 

Miscellaneous Bonds. 
Mortgage Bond Co. 4s, 1966, . 
Mutual Union Tel. Co. 1st 5s, 1941, . 
Westinghouse Elec. & Mfg. Co. 5s, 1931, . 



Book Value. 

$33,990 38 

45,287 50 

63,362 50 

52,237 50 

21,625 00 

79,190 00 

33,925 00 
29,075 00 
800 00 
16,662 50 
33,425 00 
51,275 00 
54,650 00 

76,618 75 
18,250 00 

100,000 00 

205,260 00 
25,562 50 
20,000 00 
10,900 00 

7,500 00 
7,162 50 
7,836 25 

22.437 50 

10,400 00 

9,412 50 

SI ,036,845 38 



Rate. 
105 

79 
113 
166 

49 
130 

41 
172 
141 

61 
131 
121 
108 
164 

140 
230 
100 

99 

S5 

100 

108 

105 
66 
81 

102 
93 



Market Value. 

1.500 00 
39,500 00 
56,500 00 
49,800 00 
14,700 00 
65,000 00 

4,100 00 

34,400 00 

-JO 00 

2.440 00 
13,100 00 
24.200 00 
43,200 00 
49,200 00 

63,000 00 

23.000 00 

100,000 00 

198,000 00 

21.250 00 

20.000 00 

»0 00 

75 00 

6,600 00 
8,100 00 

21,750 00 

. .»0 00 

9,300 00 

S955.715 00 



THE COLONIAL ASSURANCE CO. 



181 



THE COLONIAL ASSURANCE COMPANY OF THE CITY OF NEW 

YORK, NEW YORK, N. Y. 

Incorporated June 15, 1896. Commenced business July 15, 1896. 
Paid-up Capital, $200,000. 
LEO. H. WISE, President. E. S. POWELL, Jr., Secretary. 

Home Office, 123 William Street. 

Income. 
Net fire premiums, 



Gross interest on bonds, $11,262.64; bank deposits, $1,045.15; 

all other, $6.30, 

Gross profit on sale of bonds, ....... 

Total income, ........ 

Ledger assets, Dec. 31, 1911, ....... 

Total, 

Disbursements. 
Net amount paid policy holders for fire losses, . 
Expenses of adjustment and settlement of losses, 
Commissions or brokerage, .... 
Salaries, fees, etc., of officers and employees, 
Underwriters' boards and tariff associations, 
Fire department, patrol and salvage corps fees and taxes, 
State taxes on premiums, .... 
Insurance department licenses and fees, . 
Other licenses, fees and taxes, . . 

Dividends to stockholders, .... 
All other disbursements, .... 

Total disbursements, .... 

Balance, ...... 

Ledger Assets. 

Book value of bonds (Schedule A), . 
Deposits in trust companies and banks not on interest, 
Deposits in trust companies and banks on interest, 
Agents' balances, ...... 



Non-Ledger Assets. 



Total ledger assets, 

Interest accrued on bonds, 
Gross assets, . 



Assets not admitted. 
Agents' balances over three months due, 
Book value of bonds over market value, . 

Admitted assets, ..... 



$110,641 06 

12,314 09 
1,953 12 

$124,908 27 
369,044 41 



. $493,952 68 


$31,494 02 


765 44 


37,723 78 


2,715 00 


1,670 99 


xes, . . 512 82 


1,491 71 


410 37 


218 28 


8,000 00 


727 81 


. $85,730 22 


. $408,222 46 


. $350,860 00 


t, . . 2,414 56 


35,580 58 


19,367 32 


. $408,222 46 


3,875 00 


. $412,097 46 


$736 96 


1,060 00 1,796 96 


. $410,300 50 



182 



COLUMBIA INSURANCE CO. 



Liabilities. 
Unpaid losses, including $1,200 resisted, $8,145; less reinsurance, 

$310, 

Unearned premiums on outstanding risks, 

Federal, state and other taxes, due or accrued, 

Due for return premiums, $3,879.18 reinsurance, $1,473.43, 

Total, 

Cash capital, .... $200,000 00 

Surplus over all liabilities, . . 133,774 58 

Surplus to policy holders, 



Total liabilities, including surplus, 

Risks and Premiums. 



Fire risks in force Dec. 31, 1911, 
Fire risks written during the year, 

Total, . 
Expired and terminated, 

In force at end of year, . 
Deduct amount reinsured, 

Net amount in force, 



Risks. 

$14,748,739 00 
21,533,805 00 

$36,282,544 00 
18,611,575 00 

$17,670,969 00 
1,375,956 00 



$7,835 00 

61,588 31 

1,750 00 

5,352 61 

$76,525 92 



333,774 58 
$410,300 50 



Premiums. 

$111,073 40 
154,724 70 

$265,798 10 
135,426 05 

$130,372 05 
10,792 55 



816,295,013 00 $119,579 50 



Miscellaneous. 
Net premiums received from organization of company, 
Net losses paid from organization of company, 
Cash dividends declared from organization of company, 
Fire losses incurred during the year, 
Dividends declared during the year (4 per cent.), 
Par value of company's stock owned by directors, 



Schedule A 

Government, State and Municipal Bonds. 
United States (Phil. Is.) 4s, 1934-35, . 
New York 4s, 1961-62, .... 
New York, N. Y., 4s, 1959, 

Railroad Bonds. 
N. Y. Central & Hudson River notes, 4?s, 1915, 
New York State Rys. 1st cons. 4£s, 1962, . 



Bonds owned by the Company 

Book Value. 
. S101.000 00 
141,410 00 
59,850 00 



$5, 160,043 81 

3,338,034 35 

126,000 00 

29,9&i 02 

8,000 00 

109,550 00 



29,700 00 
18,900 00 

8350,860 00 



Rate. Market Value. 

102 §102,000 00 

101 141,400 00 

96 .57.600 00 

100 30,000 00 

94 >0 00 

8349. S00 00 



COLUMBIA INSURANCE COMPANY, JERSEY CITY, N. J. 

Incorporated March 21, 1901. Commenced business March 21, 1901. 

Paid-up Capital, $400,000. 

GEO. F. CRANE, President. C. E. DEAN, Secretary. 

Home Office, 15 Exchange Place. 

Income. 
Net marine premiums, ....... 

Gross interest on bonds, $29,848.08; bank deposits, $1,114.88 
all other, $300, 

Total income, ....... 

Ledger assets, Dec. 31, 1911, ...... 



Total, 



S401.006 65 

31,262 96 

$432,269 61 
904.056 72 

$1,336,326 33 



COLUMBIA INSURANCE CO. 



183 



Disbursements. 

Net amount paid policy holders for marine losses, 

Commissions or brokerage, . . . 

Agency expenses, ....... 

Expenses of special and general agents, . 

Salaries, fees, etc., of officers and employees, 

Advertising, printing and stationery, 

Postage, telegrams, telephone and express, 

Legal expenses, ....... 

Underwriters' boards and tariff associations, 

Fire department, patrol and salvage corps fees and taxes, 

Inspections and surveys, ..... 

State taxes on premiums, ..... 

Insurance department licenses and fees, . 

Other licenses, fees and taxes, .... 

Agents' balances charged off, ..... 

Gross decrease in book value of bonds, 

Investment expenses, ...... 

Total disbursements, ..... 

Balance, . . . . . . . 

Ledger Assets. 

Book value of bonds (Schedule A), . 

Deposits in trust companies and banks on interest, . 

Agents' balances, ....... 

Cash deposit in Ontario, ..... 

Total ledger assets, ..... 

Xox-Ledger Assets. 
Interest accrued on : — 
Bonds, $10,143.32; other assets, $62.50, . 





$180,941 17 




125,837 58 




1,053 00 




3,166 36 




6,799 50 




2,978 00 




690 00 




376 00 




792 00 




184 98 




260 00 




9,272 49 




1,524 00 




474 43 




563 30 




897 92 




82 50 


$335,893 23 


$1,000,433 10 


. $883,660 42 


37,159 28 


69,613 40 




10,000 00 


$1,000,433 10 



Gross assets, ...... 

Assets not admitted. 
Agents' balances over three months due, . 
Book value of bonds over market value, . 
Special deposits, $29,200; liabilities in offset, 
$29,200. 



814,950 00 
50,700 42 



Admitted assets, ........ 

Liabilities. 

Unpaid losses, including $1,104.65 resisted, $71,340.93; less rein- 
surance, $43,253.10, 

Unearned premiums on outstanding risks, .... 

Salaries, expenses and accounts, due or accrued, 
Federal, state and other taxes, due or accrued, 



10,205 82 
81,010,638 92 



65,650 42 



$944,988 50 



Total, 

Cash capital, .... 

Surplus over all liabilities, 
Surplus to policy holders, 

Total liabilities, including surplus, 



$400,000 00 
326,639 97 



$28,087 83 

173,260 70 

8,000 00 

9,000 00 

$218,348 53 



726,639 97 
$944,988 50 



184 



COLUMBIA INSURANCE CO. 



Marine risks in force Dec. 31, 1911, 
Marine risks written during the year, 

Total, 

Expired and terminated, 

In force at end of year, . 
Deduct amount reinsured, 

Net amount in force, 



Risks and Premiums. 

Risks. Premiums. 

S35, 187,212 00 $741,908 13 

112,299,635 00 998,147 89 



I 147,486,847 00 $1,740,056 02 
112,932,326 00 933,281 80 



834,554,521 00 $806,774 22 
18,870,745 00 463,620 41 



$15,683,776 00 $343,153 81 



Miscellaneous. 

Net premiums received from organization of company, 
Net losses paid from organization of company, 
Cash dividends declared from organization of company, 
Marine and inland losses incurred during the year, . 
Par value of company's stock owned by directors, 



$2,903,576 09 

1,395,789 10 

14,000 00 

205,292 64 

700 00 



Schedule A. Bonds owned by the Company. 



State, County and Municipal Bonds. 
Bergen County, N. J., 4*8, 1935-37, . 
Binghamton, N. Y., 3£s, 1937, 
Buffalo, N. Y., 3|s, 1917-18, 
Buffalo, N. Y., 3^s, 1919-21, 
Buffalo, N. Y., 3£s, 1922, . 
Georgia 4§s, 1915, 
Jersey City, N. J., 4|s, 1961, 
New York, N. Y., 3is, 1940-42, 
New York, N. Y„ 3|s, 1920, 
Ontario, Can., debentures 3§s, 1926, 
Toronto, Can., improvement deb. 3§s, 1916 
Union Co., N. J., 4£s, 1942, 

Railroad Bonds. 
Central of New Jersey 5s, 1987, 
Chicago, Burl. & Quincy general 4s, 1958, 
Chicago, St. Paul, Minn. & Om. cons. 3|s, 1930, 
Chicago & Northwestern 3ss, 19S7, 
Lake Shore & Michigan Southern 4s, 1931, 
Lehigh Valley 4|s, 1940, . 
Michigan Central & Detroit deb. 4s, 1929, 
Mil., Sparta & No. Western 1st 4s, 1947, 
National of Mexico 4^8, 1926, . 
New York Central & Hudson River 3£s, 1997, 
New York, New Haven & Hartford 4s, 1956, 
Northern Pacific 4s, 1997, 
Nor. Pac.-Gt. Nor. (C, B. & Q. col.) 4s, 1921, 
Oregon Short Line ref. 4s, 1929, 
Ore.-Wash. R.R. & Nav. Co. 1st ref. 4s, 1961, 
St. Louis, Iron Mt. & Southern 1st 4s, 1933, 

Miscellaneous Bonds. 
American Dock & Imp. Co. 1st 5s, 1921, 
American Tel. & Tel. Co. 4s, 1929, 
New England Tel. & Tel. Co. 5s, 1932, 
N. Y. Tel. Co. 1st gen. 4*8, 1939, 



Book Value. 

$36,315 30 

53,110 56 

20,493 62 

30,740 43 

10,246 82 

10,225 00 

103,141 61 

119,816 76 

64,402 64 

10,000 00 

9,608 00 

31,186 00 



77 
50 
00 
00 
25 
50 
00 
50 



1,246 
29,887 
29,120 
13,790 
18,631 
10,676 

9,100 
32,562 
12,000 00 

9,600 00 
28,612 50 
25,497 04 
32,443 75 
23,907 62 
18,500 00 
18,475 00 

21.54S 25 

9,025 00 

20,000 00 

19,750 00 

8883,660 42 



Rate. 

104 
90 
97 
96 
95 

101 

103 
87 
95 
95 
97 

100 

119 
95 
89 
84 
92 

104 
89 
94 
99 
87 
90 
98 
96 
92 
91 
83 

105 
89 

100 
97 



Market Value. 

£36,400 00 

45,000 00 

19,400 00 

00 00 

9,500 00 

10,100 00 

103,000 00 

97,875 00 

59,375 00 

9,500 00 

9,700 00 

31,000 00 

1,190 00 
28,500 00 
^0 00 
11,760 00 
18,400 00 
10,400 00 

8,900 00 
32,900 00 
11,880 00 

8,700 00 
27,000 00 
24,500 00 
33,600 00 
23,000 00 
1S,200 00 
16,600 00 

21,000 00 

8,900 00 

20,000 00 

19,400 00 

SS32.960 00 



COMMERCE INSURANCE CO. 



185 



COMMERCE INSURANCE COMPANY, ALBANY, N. Y. 

Incorporated June 1, 1859. Commenced business June 1, 1859. 

Paid-up Capital, 8200,000. 

E. DARWIN JENISON, President. ADDISON J. HINMAN, Secretary. 

Home Office, 57 State Street. 



Income. 

Net fire premiums, ........ 

Gross interest on mortgages, $1,733.76; stocks and bonds, 
$22,927.71; bank deposits, $376.70; gross rents, including 
$2,000 for company's own occupancy, $11,774.27, . ' 

Gross profit on sale of stocks arid bonds, .... 

Borrowed money, ......... 

Total income, ........ 

Ledger assets, Dec. 31, 1911, ....... 



Total, 



Disbursements. 



Net amount paid policy holders for fire losses, . 
Expenses of adjustment and settlement of losses, 
Commissions or brokerage, ..... 

Salaries and expenses of special and general agents, . 

Salaries, fees, etc., of officers and employees, 

Rents for company's own occupancy, 

Advertising, printing and stationery, 

Postage, telegrams, telephone and express, 

Legal expenses, ....... 

Maps, including corrections, ..... 

Underwriters' boards and tariff associations, 

Fire department, patrol and salvage corps fees and taxes, 

Inspections and surveys, ..... 

Repairs and expenses on real estate, 

Taxes on real estate, ...... 

State taxes on premiums, ..... 

Insurance department licenses and fees, . 

Other licenses, fees and taxes, .... 

Dividends to stockholders, ..... 

Gross loss on sale of bonds, ..... 

Borrowed money repaid, ..... 

Interest on borrowed money, ..... 

Total disbursements, ..... 

Balance, ....... 

Ledger Assets. 
Book value of real estate, ..... 
Mortgage loans on real estate, .... 

Book value of stocks and bonds (Schedule A), . 
Cash in office, ....... 



$256,336 63 



36,812 44 

4,390 00 

10,000 00 

$307,539 07 
717,160 56 



$1,024,699 63 


$153,052 18 


2,792 82 


60,893 69 


4,967 40 


18,866 36 


2,000 00 


3,928 60 


2,478 46 


198 84 


1,098 03 


2,632 19 


1.736 86 


816 97 


3,213 76 


2,313 18 


4,239 14 


2,642 67 


79 43 


20,000 00 


4,687 50 


10,000 00 


52 10 


$302,690 18 


$722,009 45 


$75,000 00 


31,000 00 


556,848 25 


1,010 04 



186 



COMMERCE INSURANCE CO. 



Deposits in trust companies and banks on interest, 
Agents' balances, ...... 

Total ledger assets, .... 

Non-Ledger Assets. 
Interest accrued on : — 
Mortgages, $282.50; bonds, $4,023.32, 
Rents accrued on company's property, 
Market value of real estate over book value, 
Due from other companies, .... 

Gross assets, ...... 

Assets not admitted. 
Agents' balances over three months due, 
Book value of stocks and bonds over market value, 

Admitted assets, ....... 

Liabilities. 
Unpaid losses, including S4,153.45 resisted, $30,303.84; less 
surance, $5,352, ...... 

Unearned premiums on outstanding risks, 
Salaries, expenses and accounts, due or accrued, 
Federal, state and other taxes, due or accrued, 
Commissions and other charges due agents and brokers, 
Due for reinsurance, ...... 



S867 
7,142 



37 
75 



re- 



Total, . 
Cash capital, 

Surplus over all liabilities, 
Surplus to policy holders, 



Total liabilities, including surplus, 

Risks and Premiums. 



$200,000 
269,104 



00 
26 



Fire risks in force Dec. 31, 1911, 
Fire risks written during the year, . 
Excess premiums on account of reinsurance, 

Total, 

Expired and terminated, 

In force at end of year, .... 
Deduct amount reinsured, 

Net amount in force, 



Risks. 

$48,713,644 
35,547,465 



00 
00 



S84,261,109 
21,443,980 



$62,817,129 
16,606,934 



$17,414 96 
40,736 20 

$722,009 45 



4,305 82 

292 50 

25,000 00 

3,326 61 

$754,934 38 



8,010 12 
$746,924 26 

4,951 84 
238,762 06 
2,200 00 
4.500 00 
350 00 
7,056 10 

$277,820 00 

469,104 26 
$746,924 26 



Premiums. 

-.542 45 

358,710 31 

407 15 



00 $847,659 91 
00 323,703 06 



00 $523,956 85 
00 71,312 60 



$46,210,195 00 $452,644 25 



Miscellaneous. 
Net premiums received from organization of company, 
Xet losses paid from organization of company, 
Cash dividends declared from organization of company, 
Fire losses incurred during the year, 
Dividends declared during the year (10 per cent.), 
Par value of company's stock owned by directors, 



$8,593,511 63 

5,073,829 18 

1,136,000 00 

149,509 23 

20,000 00 

62.475 00 



COMMERCE INSURANCE CO. 



187 



Schedule A. Stocks and Bonds owned by the Company. 

Railroad Stocks. 
200 shares Delaware & Hudson, 
100 " Great Northern, preferred, 
100 rights Great Northern, 
450 shares Pennsylvania, .... 
100 " Southern Pacific, 

Bank Stocks. 
100 shares First National, Albany, 
50 " National, Cohoes, 
50 " National Commercial, Albany, . 

Miscellaneous Stocks. 
100 shares American Tobacco Co., preferred, 

4 " General Adjust. Bureau, New York, 
50 " General Electric Co., 

160 " Kings Co. Elec. Lt. & Power Co., 
50 " Municipal Gas Co., Albany, N. Y., 

5 " Underwriters Salvage Co., N. Y., 
5 " Underwriters Salvage Co., Chicago, 
1 share West. Adjust. & Inspec. Co.. Chicago, 

266 shares Western Union Telegraph Co., . 

State, County and Municipal Bonds. 
Albany, N. Y., 3|s, 1913, . 
Albany, N. Y., 3*s, 1914, . 
Albany, N. Y. f 3£s, 1915-16, 
Albany, N. Y., 3|s, 1917-18, 
Albany, N. Y., 3Js, 1919-20, 
Albany, N. Y., 3£s, 1921-22, 
Albany, N. Y., 3£s, 1923-24, 
Albany, N. Y., 4s, 1913-15, 
Albany, N. Y., 4s, 1916-22, 
Albany, N. Y., 4s, 1923-29, 
Albany County, N. Y., 3|s, 1919-20, 
Albany County, N. Y., 3§s, 1922, 
Albanv County, N. Y., 4s, 1913-15, 
Albany County, N. Y., 4s, 1917-25, 
New York canal 4s, 1960, . 
New York, N. Y., 3*s, 1915, 
New York, N. Y., 3*s, 1918, 
New York, N. Y., 3Js, 1930, 
New York, N. Y., 3|s, 1936, 
New York, N. Y., 3*s, 1950, 
New York, N. Y., 4s, 1955-56, 

Railroad Bonds. 
Brooklyn Rapid Transit 5s, 1918, 
Buffalo & Susquehanna 4£s, 1953, 
Central Pacific 4s, 1954, 
Interborough Rapid Transit 5s, 1952, ' 
New York, Ontario & Western 4s, 1955, 
New York State series A 4£s, 1962, 
Schenectady consolidated 4fs, 1941, 
United Traction cons. 4|s, 2004, 
United Traction deb. 4Js, 1919, 
Watervliet Turnpike 1st 6s, 1919, 

Miscellaneous Bonds. 
Albany, N. Y., Board of Underwriters 6s, 1914, 
Bethlehem Steel Co. 1st ref. 5s, 1942, 
Kings Co. Elec. Lt. & Power Co. 6s, 1922, 



Book Value. 


Rate. 


Market Value. 


$35,700 


00 


166 


$33,200 00 


13,250 


00 


130 


13,000 00 






2 


200 00 


29,900 


00 


122 


27,450 00 


12,500 00 


108 


10,800 00 


10,000 


00 


163 


16,300 00 


5,000 


00 


212 


10,600 00 


18,925 


00 


368 


18,400 00 


10,500 


00 


105 


10,500 00 


400 


00 


100 


400 00 


9,181 


25 


189 


9,450 00 


19,020 


00 


130 


20,800 00 


10,000 


00 


283 


14,150 00 


500 


00 


150 


750 00 


500 


00 


100 


500 00 


100 


00 


200 


200 00 


23,400 


00 


76 


20,216 00 






100 


25,975 00 






99 


6,187 50 






98 


980 00 


• 37,225 


00- 


97 


970 00 






96 


960 00 






95 


950 00 






94 


940 00 


< 




100 


3,000 00 


• 42,172 


00- 


99 


6,930 00 






98 


31,360 00 


\ 8,000 


00- 


96 

I 95 


1,920 00 
5,700 00 


1 7,000 00 < 


100 

i 99 


2,000 00 
4,950 00 


51,000 


00 


101 


50,500 00 


14,250 


00 


98 


13.965 00 


10,000 


00 


96 


9,600 00 


10,000 


00 


90 


9,000 00 


10,000 


00 


88 


8,800 00 


8,975 


00 


85 


8,500 00 


20,000 


00 


94 


18,800 00 


9,675 


00 


96 


9,600 00 


9,150 


00 


13 


1,300 00 


9,800 


00 


91 


9,100 00 


10,300 


00 


104 


10,400 00 


8,550 


00 


90 


8,100 00 


23,375 


00 


94 


23,500 00 


16,150 


00 


103 


16,480 00 


10,150 


00 


96 


9,600 00 


14,975 


00 


97 


14,550 00 


10,700 


00 


107 


10,700 00 


1,000 


00 


100 


1,000 00 


9,125 


00 


86 


8,600 00 


6,400 


00 


123 


7,872 00 


$556,848 


25 


$549,705 50 



188 



THE COMMERCIAL UNION FIRE INSURANCE CO. 



THE COMMERCIAL UNION FIRE INSURANCE COMPANY OF NEW 

YORK, NEW YORK, N. Y. 

Incorporated Oct. 30, 1890. Commenced business April 1, 1891. 

Paid-up Capital, $200,000. 

A. H. WRAY, President. C. J. HOLMAN, Vice-President and Secretary. 

Home Office, 55 John Street. 

Income. 

Net fire premiums, .... ... $424,787 25 

Gross interest on stocks and bonds, $30,907.77; bank deposits, 

$654.48, 31,562 25 

Sale of rights, 47 00 

Total income, ...... 

Ledger assets, Dec. 31, 1911, ..... 

Total, 

Disbursements. 

Net amount paid policy holders for fire losses, . 

Expenses of adjustment and settlement of losses, 

Commissions or brokerage, ..... 

Expenses of special and general agents, 

Salaries, fees, etc., of officers and employees, 

Advertising, printing and stationery, 

Postage, telegrams, telephone and express, 

Maps, including corrections, ..... 

Underwriters' boards and tariff associations, 

Fire department, patrol and salvage corps fees and taxes, 

Inspections and surveys, ..... 

State taxes on premiums, ..... 

Insurance department licenses and fees, . 

Other licenses, fees and taxes, .... 

Dividends to stockholders, ..... 

Gross decrease in book value of stocks and bonds, 

All other disbursements, ..... 

Total disbursements, ..... 

Balance, ....... 

Ledger Assets. 

Book value of stocks and bonds (Schedule A), . 
Cash in office, ....... 

Deposits in trust companies and banks on interest, . 
Agents' balances, ....... 



Total ledger assets, 

Interest accrued on bonds, 
Gross assets, . 



Non-Ledger Assets. 





$456,396 50 


• 


933,781 42 


$1,390,177 92 


. $173,345 24 




4,503 06 




97,778 48 




5,947 58 




6,054 93 




3,417 97 




1,398 40 




786 77 




3,890 25 




4,470 80 




2,362 11 




5,472 99 




2,826 90 




2,601 24 




20,000 00 




460 50 




37- 21 


$335,695 47 


$1,054,4S2 45 


. $887,220 22 


15 73 


31.702 SO 




135,543 70 


$1,054,482 45 


• 


8,341 00 



$1,062,823 45 



THE COMMERCIAL UNION FIRE INSURANCE CO. 



189 



Assets not admitted. 

Agents' balances over three months due, . . $3,797 21 

Book value of stocks and bonds over market value, . 30,936 22 

Admitted assets, ........ 

Liabilities. 
Unpaid losses, including $2,850 resisted, $54,871; less reinsur- 
ance, $17,243, . . . 
Unearned premiums on outstanding risks, 
Salaries, expenses and accounts, due or accrued, 
Federal, state and other taxes, due or accrued, 
Commissions and other charges due agents and brokers, 
Due for return premiums, $526.83; reinsurance, $21,961.13, 



Total, 

Cash capital, ...... 

Surplus over all liabilities, .... 

Surplus to policy holders, . . . . — 

Total liabilities, including surplus, 

Risks and Premiums. 



$200,000 00 
350,671 22 



$34,733 43 
$1,028,090 02 



$37,628 00 

391,210 84 

8,121 00 

7,095 00 

10,876 00 

22,487 96 

$477,418 80 



550,671 22 
$1,028,090 02 



Fire risks in force Dec. 31, 1911, 
Fire risks written during the year, 

Total, .... 
Expired and terminated, 

In force at end of year, . 
Deduct amount reinsured, 



Risks. Premiums. 

$80,683,043 00 $836,015 64 
72,765,459 00 730,514 96 

$153,448,502 00 $1,566,530 60 
58,747,652 00 603,996 18 



$94,700,850 00 
20,189,258 00 



$962,534 42 
236,044 52 



Net amount in force, 



$74,511,592 00 $726,489 90 



Miscellaneous. 



Net premiums received from organization of company, 

Net losses paid from organization of company, 

Cash dividends declared from organization of company, 

Fire losses incurred during the year, 

Dividends declared during the year (10 per cent.), 

Par value of company's stock owned by directors, 



$3,899,459 89 

1,922,823 05 

221,225 00 

179,949 24 

20,000 00 

6,500 00 



Schedule A. Stocks and Bonds owned by the Company. 



Railroad Stocks. 
250 shares Allegheny & Western, 
150 " Chicago, Mil. & St. Paul, pref., 
200 " Manhattan, 
127 Second Avenue, 

100 " Southern, preferred, 

Slate and Municipal Bonds 
New York 4s, 1962, . 
New York 3s, 1956-58, 
New York, N. Y., 3is, 1914, 
New York, N. Y., 3£s, 1915, 
New York, N. Y. f 3£s, 1942, 
New York, N. Y., 3£s, 1952-54, 
New York, N. Y., 4s, 1956, 
Norfolk, Va., 4§s, 1940, . 



Book Value. 

$37,375 00 

18,136 93 

27,087 50 

1,270 00 

7,200 00 

50,275 00 

25,657 70 

18,643 75 

13,139 00 

22,093 75 

157,343 75 

186,100 50 

25,000 00 



Rate. 
140 
140 
131 
2 
80 

101 
99 
99 
98 
87 
85 
94 

100 



Market Value. 

$35,000 00 

21,000 

26,200 

254 

8,000 



00 
00 
00 
00 



50,500 00 

24,750 00 

18,810 00 

12,740 00 

21,750 00 

148,750 00 

173,900 00 

25,000 00 



190 



THE COMMONWEALTH INSURANCE CO. 



Railroad Bonds. 
Atch., Top. & Santa Fe 4s, 1995, 
Baltimore & Ohio (S. W. Div.) 3§s, 1925, . 
Chic, Lake Shore & Eastern 1st 4|s, 1969, 
Interborough Rapid Transit 5s, 1952, 
Minn., St. P. & S. Ste. Marie cons. 4s, 1938, 
Missouri Pacific 1st col. 5s, 1920, 
St. Louis Southwestern 1st 4s, 1989, . 
Santa Fe, Prescott & Phoenix 1st 5s, 1942, . 
Southern 1st cons. 5s, 1994, 
Union Pacific conv. 4s, 1927, 

Miscellaneous Bonds. 
Michigan, Lake Superior Power Co. 5s, 1949, 
Western Union Tel. Co. 4Js, 1950, 



Book Value. 


Rate. 


Market \ 


$10,000 00 


97 


$9,700 00 


36,288 61 


91 


36T400 00 


21,256 00 


103 


20,600 00 


25,753 70 


104 


26,000 00 


19,900 00 


96 


19,200 00 


20,429 00 


98 


19,600 00 


38,497 78 


89 


35,600 00 


27,283 50 


108 


27,000 00 


50,680 00 


106 


50,880 00 


20,440 00 


97 


19,400 00 


1,500 00 


15 


1,500 00 


25,868 75 


95 


23,750 00 


8887,220 22 


$856,284 00 



THE COMMONWEALTH INSURANCE COMPANY OF NEW YORK, 

NEW YORK, N. Y. 

Incorporated Aug. 23, 1886. Commenced business Sept. 15, 1886. 

Paid-up Capital, $500,000. 

E. G. RICHARDS, President. ROBERT NEWBOULT, Secretary. 

Home Office, 76 William Street. 

Income. 
Net fire premiums, 



Gross interest on mortgages, S16.774.25; stocks and bonds, 

$86,105.72; bank deposits, $1,267.04, 

Agents' balances previously charged off, ..... 
Gross profit on sale or maturity of stocks and bonds, 

Total income, ........ 

Ledger assets, Dec. 31, 1911, ....... 



Total, 



Disbursements. 



Net amount paid policy holders for fire losses, . 
Expenses of adjustment and settlement of losses, 
Commissions or brokerage, ..... 

Agency expenses, ....... 

Salaries and expenses of special and general agents. . 

Salaries, fees, etc., of officers and employees, 

Rents, ......... 

Advertising, printing and stationery, 

Postage, telegrams, telephone and express, 

Legal expenses, ....... 

Furniture and fixtures, ...... 

Maps, including corrections, ..... 

Underwriters' boards and tariff associations, 

Fire department, patrol and salvage corps fees and taxes, 

Inspections and surveys, 

State taxes on premiums, 

Insurance department licenses and fees, 

Other licenses, fees and taxes, 

Dividends to stockholders, 



$858,922 39 

104,147 01 

21 14 

19,173 13 

$982,263 67 
2,557,075 36 

$3,539,339 03 



$521,945 81 
10,281 70 

178.996 38 
2,927 22 

44.W9 65 
25.703 97 

7.509 56 
16,731 79 

6,925 79 
565 52 

2,225 71 
5 02 

6,83 5 

7,015 51 

5.343 68 

13,138 15 

-7 26 

6,483 IS 
50.000 00 



, 



THE COMMONWEALTH INSURANCE CO. 



191 



Agents' balances charged off, . . . . . . . SI 77 36 

Gross loss on sale of stocks, ....... 2,450 00 

Total disbursements, .... 

Balance, . ., 

Ledger Assets. 
Mortgage loans on real estate, 
Book value of stocks and bonds (Schedule A), . 
Cash in office, ...... 

Deposits in trust companies and banks on interest, 
Agents' balances, ...... 

Due from authorized companies, 

SpriDkled leakage account, .... 

Total ledger assets, .... 

Non-Ledger Assets. 

Interest due and accrued on: — 
Mortgages, $3,081.96; bonds, $13,719.98, .... 

Gross assets, ......... 

Assets not admitted. 

Agents' balances over three months due, . . . $3,906 07 
Book value of stocks and bonds over market value, . 34,044 23 
Sprinkled leakage account, . . . . . 100 00 

Admitted assets,* ........ 

Liabilities. 

Unpaid losses, including $8,935.26 resisted, $109,300.32; less re- 
insurance, $24,528, ..... 
Unearned premiums on outstanding risks, 
Salaries, expenses and accounts, due or accrued, 
Federal, state and other taxes, due or accrued, 

Total, 

Cash capital, $500,000 00 

Surplus over all liabilities, . . . 1,178,528 13 

Surplus to policy holders, 



$918,242 01 
$2,621,097 02 



$309,000 00 

2,078,965 23 

200 00 

87,767 87 

143,636 47 

1,427 45 

100 00 

$2,621,097 02 



16,801 94 
$2,637,898 96 



38,050 30 
$2,599,848 66 



$84,772 32 

805,048 21 

1,500 00 

30,000 00 

$921,320 53 



Total liabilities, including surplus, 

Risks and Premiums. 



Fire risks in force Dec. 31, 1911, 
Fire risks written during the year, 

Total, . 
Expired and terminated, 

In force at end of year, . 
Deduct 1 amount reinsured, 

Xet amount in force, 



Risks. 

$221,688,320 00 
171,539,211 00 

$393,227,531 00 
172,305,643 00 

$220,921,888 00 
41,675,910 00 



1,678,528 13 
$2,599,848 66 



Premiums. 

$2,076,748 51 
1,440,066 26 

$3,516,814 77 
1,554,369 99 

$1,962,444 78 
368,196 07 



$179,245,978 00 $1,594,248 71 



* These assets include deposits in this country amounting to $35,700, which the company has made 
for the protection of certain policy holders. Liabilities of $12,166.28 have accrued against these deposits, 
which are included in the total liabilities of the company. The excess of these deposits over corresponding 
liabilities is $23,533.72, which is included in the surplus and is subject to a lien under the conditions of 
the special deposit, which, in certain contingencies, would, it should be noted, remove said excess from 
the funds available to pay the claims of general policy holders. 



192 



THE COMMONWEALTH INSURANCE CO. 



Miscellaneous. 
Net premiums received from organization of company, 
Net losses paid from organization of company, 
Cash dividends declared from organization of company, 
Fire losses incurred during the year, 
Dividends declared during the year (10 per cent.), 
Par value of company's stock owned by directors, 



Schedule A. Stocks and Bonds owned by the Company 



$9,090,101 40 

4,295,989 41 

821,000 00 

492,556 08 

50,000 00 

10,000 00 



Railroad Stocks. 
200 shares Allegheny & Western, 
800 " Atch., Topeka & Santa Fe, pref., 
500 " Baltimore & Ohio, preferred, . 
1,000 " Brooklyn City, 
500 " Chicago, Mil. & St. Paul, pref., 
500 " Chicago & Northwestern, com., 
300 " Chicago & Northwestern, pref., 
100 " Chic, St. P., Minn. & Om., pref., 
[100 " Cleve., Cin., Chic. & St. L., pref., 
200 " Great Northern, preferred, 
200 " Illinois Central, 

50 " Kansas City, St. L. & Chic, pref., 
500 " M., St. P. & S. Ste. M., leased lines, 
200 " Missouri, Kansas & Texas, pref., 
400 " New York Central & Hudson Riv., 
'300 " New York, New Haven & Hartford, 
1,600 " Reading Co., 1st preferred, 
1,000 " Union Pacific, preferred, 
Bank Stocks. 
17 shares Manhattan Co., New York, 

Miscellaneous Stocks. 
200 shares Amer. Telegraph & Cable Co., 
500 " Consolidated Gas Co., New York, 
120 " Pullman Co., 

1 share Western Adjust. & Inspection Co., 
Government Bonds. 
United States 3s, 1918, op. 1908, 
United States 3s, 1961, 

Municipal Bonds. 

Y., 3§s, 1920, ... 

Y., 3^s, 1916, 

Y., 3*s, 1954 

Railroad Bonds. 
Baltimore & Ohio (So. West. Div.) 1st 3hs, 1925, 
Central Pacific 1st 4s, 1949, 
Chic, Burl. & Quincv (111. Div.) 4s, 1949, . 
Chicago, Milwaukee & St. Paul deb. 4s, 1934, 
Chicago, Milwaukee & St. Paul conv. 4js, 1932, 
Delaware & Hudson Co. 1st ref. 4s, 1943, . 
Lake Shore & Michigan Southern deb. 4s, 1931, 
Lehigh Valley general 4s, 2003, . 
Manhattan cons. 4s, 1990, 
Milwaukee, Sparta & Northwestern 4s, 1947, 
Missouri, Kansas & Texas 1st 4s, 1990, 
N. Y. C. & H. R. (Lake Shore col.) 3is, 199S, 
New York, Chicago & St. Louis deb. 4s, 1931, 
N. Y.. N. H. & Hartford conv. deb. 6s, 19 
Norfolk & Western 1st 4s, 1944, 
Northern Pacific general 3s, 2047, 
Pennsvlvania general equip. 4s, 1917, 
Pennsylvania Co. 3£s, 1916, 
Pennsylvania Co. 4s, 1931, 
Pennsylvania conv. 3?s, 1915, 
Penn. & N. Y., Canal & R.R. con. 5s, 1939, 
Reading Co. (Jersey Central col.) 4s, 1951, 
Rome, Watertown & Ogdens. 1st 4s, 1922, . 
Southern Pacific conv. 4s, 1929, 
St. Paul, Minn. & Manitoba 4§s, 1933, 



New York, N. 
New York, N. 
New York, N. 



00 
50 
00 
25 
37 
50 



Book Value. 
$29,0. 
75,960 
45,637 
IS 

62,362 
53,824 
40,412 
10,162 50 
10,450 00 
24,9 
28,331 25 

6,81 
46,058 33 
12,825 00 
48,220 00 
52,841 25 
68,787 50 
89,437 50 

1,672 32 

18,025 00 

94,617 75 

8,237 00 

200 00 

2,000 00 
35,840 25 

40,000 00 

30,000 00 

170,000 00 

45,043 75 
23,890 62 
24.777 62 
46,625 00 
50,894 14 
To 00 
-1 25 
19,325 00 
49,612 50 
46,712 50 
24.251 25 
24,993 75 
9,062 50 
29,97- 
46.437 50 
35,501 25 
24,260 58 
11,685 00 
29,400 00 
9,700 00 
11,357 
27,961 
24,531 
59,462 
26,312 



50 
25 
25 
50 
50 



Rate. 
140 
102 

162 
140 
138 
188 
152 
95 
130 
127 
115 

62 
109 

91 
92 

366 

66 

140 
165 
200 

103 
102 

95 
97 
S5 

91 
95 
99 
91 

105 
99 
92 
96 
94 
94 
95 
79 
- 

125 
93 
68 
98 

96 

97 
113 

96 

99 

93 
105 



Market Value. 

X) 00 
M.600 00 
43,500 00 

;0 00 
70,000 00 
69,000 00 
56,400 00 
_ X) 00 
9,500 00 
26,000 00 
25,400 00 

00 
42,000 00 
12,400 00 
43,600 00 
38,400 00 
72,800 00 
92,000 00 

3.111 00 

13.200 00 

70,000 00 

19,800 00 

200 00 

2,060 00 
35,700 00 

3S.000 00 

29,100 00 

144,500 00 

45.500 00 
23,750 00 
24,750 00 
45.500 00 
52,500 00 
49,500 00 
23,000 00 
19,200 00 
47,000 00 
47,000 00 
23.750 00 
23.700 00 

- - 00 
31.250 00 
46,500 00 
34,000 00 
24,500 00 
) 00 
_ - - 00 I 

9,700 00 
11,300 00 
27.S40 00 
24.750 00 
00 
26.250 00 



THE CONCORDIA FIRE INSURANCE CO. 



193 



Union Pacific 1st ref . 4s, 2008, . 
Union Pacific conv. 4s, 1927, 
Vandalia cons, series B 4s, 1957, 
Washington Terminal Co. 1st 3§s, 1945, 

Miscellaneous Bonds. 
New York Telephone Co. 1st 4|s, 1939, 
N. Y. & Westchester Lighting Co. deb. 5s, 1954, 
N. Y. & Westchester Lighting Co. gen. 4s, 2004, 



Book Value. 

$24,625 00 

25,806 25 

24,250 00 

8,850 00 

48,406 25 
25,125 00 
21,500 00 

5,078,965 23 



Rate. 
96 
97 
94 
86 

97 

102 

83 



Market Value. 

$24,000 00 

24,250 00 

23,500 00 

8,600 00 

48,500 00 

25,500 00 

20,750 00 

$2,044,921 00 



THE CONCORDIA FIRE INSURANCE COMPANY OF MILWAUKEE, 

MILWAUKEE, WIS. 

Incorporated March 7, 1870. Commenced business March 22, 1870. 

Paid-up Capital, §600,000. 

GUSTAV WOLLAEGER, Jr., President. FRANK DAMKOEHLER, Secretary. 

Home Office, West Water and Wells Streets. 

Income. 
Net fire premiums, 
Gross interest on mortgages, $41,061.82; bonds, $31,958.73; bank 

deposits, $566.34; all other, $4, . 
Agents' balances previously charged off, 
Gross profit on sale of bonds, . 
Gross increase in book value of bonds, 
Premium on increase in capital, 
From all other sources, . 

Total income, 
Ledger assets, Dec. 31, 1911, plus $300,000 increase in capital, 



Total, 



Disbursements. 



Net amount paid policy holders for fire losses, . 
Expenses of adjustment and settlement of losses, 
Commissions or brokerage, .... 

Agency expenses, ...... 

Salaries and expenses of special and general agents, 
Salaries, fees, etc., of officers and employees, 
Rents, ....... 

Advertising, printing and stationery, 
Postage, telegrams, telephone and express, 
Legal expenses, ...... 

Furniture and fixtures, .... 

Maps, including corrections, .... 

Underwriters' boards and tariff associations, 

Fire department, patrol and salvage corps fees and taxes, 

State taxes on premiums, 

Insurance department licenses and fees, 

Other licenses, fees and taxes, 

Dividends to stockholders, 

Agents' balances charged off, . 

Gross decrease in book value of bonds, 

All other disbursements, 

Total disbursements, 

Balance, .... 



$1,148,548 72 


73,590 89 


404 72 


1,707 61 


1,114 69 


300,000 00 


85 00 


$1,525,451 63 


1,945,313 13 


$3,470,764 76 


$589,815 81 


11,779 02 


298,463 14 


1,490 19 


38,505 01 


44,379 73 


4,777 50 


11,557 27 


9,815 29 


5,057 55 


2,642 16 


3,122 16 


11,547 55 


12,955 97 


26,398 46 


7,116 52 


1,814 04 


62,894 52 


521 78 


$6,157 63 


4,854 71 


$1,155,666 01 


$2,315,098 75 



194 



THE CONCORDIA FIRE INSURANCE CO. 



Ledger Assets. 
Mortgage loans on real estate, .... 

Book value of bonds (Schedule A), . 

Cash in office, ....... 

Deposits in trust companies and banks not on interest, 
Deposits in trust companies and banks on interest, . 
Agents' balances, ....... 

Deposit with Western Sprinkled Risk Association, 
Deposit with Milwaukee Board of Fire Underwriters, 

Total ledger assets, ..... 

Xon-Ledger Assets. 
Interest accrued on: — 
Mortgages, $8,005.33; bonds, $17,483.28, 
Due from other companies, ..... 



$2,430 

8,265 
500 
100 



Gross assets, ....... 

Assets not admitted. 

Agents' balances over three months due, 
Due from unauthorized companies, .... 
Book value of bonds over market value, . 
Deposit with Western Sprinkled Risk Association, 
Deposit with Milwaukee Board of Fire Underwriters, 

Admitted assets, ....... 

Liabilities. 

Unpaid losses, including $8,801.49 resisted, $131,605.59; less 

insurance, $32,354.04, 
Unearned premiums on outstanding risks, 
Federal, state and other taxes, due or accrued, 
Due for reinsurance, .... 
Reserve for contingencies, 



"2,000 00 

1,055,244 08 

11,961 75 

39,662 36 

34,926 57 

200,703 99 

500 00 

100 00 

$2,315,098 75 



25,488 61 
15,865 91 

$2,356,453 27 



42 
67 
00 
00 
00 



11,296 09 



.345,157 18 



re- 



Total, . 
Cash capital, 

Surplus over all liabilities, 
Surplus to policy holders, 



Total liabilities, including surplus, 

Risks and Premiums. 



$600,000 
465,025 



00 

72 



$99,251 55 

1,123,151 52 

25,000 00 

22,72S 39 

10,000 00 

. $1,280,131 46 



Fire risks in force Dec. 31, 1911, 
Fire risks written during the year, . 
Excess premiums on account of reinsurance, 

Total, 

Expired and terminated, 

In force at end of year, .... 
Deduct amount reinsured, 

Xet amount in force, 



Risks. 

$216,224,985 
149,314,758 



1,065,025 72 
$2,345,157 18 



Premiums. 

00 $2,458,146 42 

00 1,786,536 42 

1,440 11 



$365,539,743 
125,174,003 



00 $4,246,122 95 
00 1,553,413 76 



$240,365,740 
42,401,023 



00 $2,692,709 19 
00 546.624 24 



$197,964,717 00 $2,146,084 £ 



-. 



THE CONCORDIA FIRE INSURANCE CO. 



195 



Miscellaneous. 
Net premiums received from organization of company, 
Net losses paid from organization of company, 
Cash dividends declared from organization of company, 
Fire losses incurred during the year, 
Dividends declared during the year, 
Par value of company's stock owned by directors, 



$17,341,455 51 

. 9,254,716 63 

560,561 52 

621,804 41 

62,894 52 

278,900 00 



Schedule A. Bonds owned by the Company. 



Milwaukee, Wis. 
Milwaukee, Wis. 
Milwaukee, Wis. 
Milwaukee, Wis. 
Milwaukee, Wis. 
Milwaukee, Wis. 



County and Municipal Bonds. Book Value. 

Appleton, Wis., 4§s, 1925-26 $20,400 00 

Brown & Pike Counties, 111., 6s, 1915, . . 2,550 00 

Brown & Pike Counties, 111., 6s, 1916, . . 7,725 00 

Brown & Pike Counties, 111., 6s, 1921, . . 2,625 00 

Brown & Pike Counties, 111., 6s, 1922, . . 2,650 00 

Cascade Co., Mont., 5s, 1932, .... 26,250 00 

Davidson County, Tenn., 4$s, 1937, op. 1919, . 10,100 00 

Des Moines, Iowa, 4|s, 1932 25,750 00 

Fond du Lac, Wis., 4K 1917, op. 1907, . . 30,000 00 

Fond du Lac, Wis., 3£s, 1921, .... 11,400 00 

Juneau County, Wis., 5s, 1914-17, . . . 12,397 58 

Kewanee, 111., 5s, 1915, 5,050 00 

Kewanee, 111., 5s, 1916-18, .... 3,060 00 

Kewanee, 111., 5s, 1919-20, .... 2,060 00 

Kewanee, 111., 5s, 1921-23, .... 3,120 00 

M. & M. Falls, S. Pist., Wau. Co., Wis., 5s, 1913, . 800 00 

M. & M. Falls, S. Dist., Wau. Co., Wis., 5s, 1914-15, 1,624 00 

M. & M. Falls, S. Dist., Wau. Co., Wis., 5s, 1916, . 1,020 00 

M. & M. Falls, S. Dist., Wau. Co., Wis., 5s, 1917-18, 2,070 00 

M. & M. Falls, S. Dist., Wau. Co., Wis., 5s, 1919-21, 3,350 00 

Milwaukee, Wis., 5s, 1913 7,000 00 

5s, 1914 7,070 00 

5s, 1915-16, .... 14,350 00 

5s, 1917 7,280 00 

3s, 1919, .... 950 00 

3K 1913, .... 1,000 00 

3 1 s 1914 990 00 

Milwaukee, Wis., 4s 2 , 1913, ! .' 2,000 00 

Milwaukee Co., Wis., school 4$s, 1929-31, . . 26,250 00 

New York, N. Y., 3£s, 1928, .... 23,500 00 

New York, N. Y., 4Js, 1962 25,250 00 

Ogle County, 111., school dist. 4£s, 1920-26, . 10,150 00 

Oklahoma City, Okla., 4*s, 1929, . . . 25,000 00 

Pasadena, Cal., 4£s, 1929, .... 25,000 00 

P. & La M. D. & L. Dist., P. Co., 111., 6s, 1916-17, 4,100 00 

P. & La M. D. & L. Dist., P. Co., 111., 6s, 1918, . 1,040 00 

Portland, Ore., 6s, 1922, 10,400 00 

Port of Portland, Ore., 4s, 1934, . . . 49,000 00 

St. Louis County, Minn., 4§s, 1918, . . . 25,500 00 

Seattle, Wash., 4£s, 1930 20,000 00 

Sioux Falls, So. Dak., 5s, 1932, .... 26,000 00 

Spokane, Wash., school district 4|s, 1931, . . 21,420 00 

Starke Co., Ind., Kankakee drainage 6s, 1911-16, 15,322 50 

Tomah, Wis., 5s, 1917-20 4,100 00 

Tomah, Wis., 5s, 1921-24, . . . . 4,150 00 

Tomah, W T is., 5s, 1925-26, .... 2,100 00 

Wausau, Wis., 4s, 1921-25 30,000 00 

Wausau, Wis., 4s, 1926-28, .... 15,000 00 

Wau. & G., Mil. Co., Wis., Jt. S. D. 5s, 1913, . 1,000 00 

Wau. & G., Mil. Co., Wis., Jt. S. D. 5s, 1914-15, 2,030 00 

Wau. & G., Mil. Co., Wis., Jt. S. D. 5s, 1916-18, 3,090 00 

Railroad Bonds. 

Atch., Top. & Santa Fe (Tr. Sh. L.) 1st 4s, 1958, 9,200 00 

Chicago, Milwaukee & St. Paul gen. 4s, 1989, . 49,500 00 

Chicago & Northwestern general 4s, 1987, . . 24,500 00 

Chic, R. I. & Pac 1st and ref. 4s, 1934, . . 21,750 00 

Chic, R. I. & Pac. equipment 4§s, 1916, . . 9,900 00 

Lake Shore & Michigan Southern 4s, 1931, . . 23,250 00 



Rate. 
102 
101 
102 
103 
104 
104 
101 
103 
100 

96 
100 
101 
102 
103 
104 
100 
101 
102 
103 
104 
100 
101 
102 
103 

94 
100 

99 
100 
104 

91 
100 
101 
100 
101 
102 
103 
107 

95 
101 
101 
102 
100 
100 
102 
103 
104 

98 

97 
100 
101 
102 

91 
99 
98 
87 
98 
92 



00 
00 
00 
00 



00 
00 
00 
00 
00 
00 
00 



Market Value. 
$20,400 00 

2,525 

7,650 

2,575 

2,600 
26,000 00 
10,100 00 
25,750 00 
30,000 00 
11,520 00 
12.397 58 

5,050 00 

3,060 00 

2,060 00 

3,120 00 
800 

1,616 

1,020 

2,060 

3,328 

7,000 

7,070 
14,280 00 

7,210 00 
940 00 

1,000 00 
990 00 

2,000 00 
26,000 00 
22,750 00 
25,000 00 
10,100 00 
25,000 00 
25,250 00 

4,080 00 

1,030 00 
10,700 00 
47,500 00 
25,250 00 
20,200 00 
25,500 00 
21,000 00 
15,187 50 

4,080 00 

4,120 00 

2,080 00 
29,400 00 
14,550 00 

1,000 00 

2,020 00 

3,060 00 

9,100 00 
49,500 00 
24,500 00 
21,750 00 

9,800 00 
23,000 00 






196 



CONNECTICUT FIRE INSURANCE CO. 



Metropolitan Street, Kansas City, cons. 5s, 1913, 
Milwaukee El. Ry. & Lt. Co. 1st cons. 5s, 1926, 
Mil. Light, Heat & Traction Co. 1st 5s, 1929, 
Milwaukee, Sparta & N. W. 1st 4s, 1947, . 
N. Y., New Haven & Hartford deb. 4s, 1956, 
Oregon Short Line refunding 4s, 1929, 
Southern Pacific 1st refunding 4s, 1955, 
Union Pacific 1st lien and refunding 4s, 2008, 

Miscellaneous Bonds. 
LaClede Gas Light Co. refunding 5s, 1934, . 
Milwaukee Gas Light Co. 1st 4s, 1927, 
Peoples Gas Lt. & C. Co., Chic, ref. 5s, 1947, 
Port. Gas & C. Co., Port., Ore.,»lst & ref. 5s, 1940 
Wisconsin Gas & Electric Co. 1st 5s, 1952,]. 



Book Value. 


Rate. 


Market Value. 


$25,000 00 


95 


1,750 00 


52,000 00 


104 


)() 00 


51,000 00 


101 


50,. 500 00 


23,500 00 


94 


23,500 00 


22,500 00 


90 


22,500 00 


18,400 00 


92 


18,400 00 


23,250 00 


93 


23,250 00 


9,700 00 


96 


9,600 00 


10,000 00 


101 


10,100 00 


22,750 00 


90 


22,500 00 


25,500 00 


101 


25,250 00 


), 25,000 00 


99 


50 00 


24,500 00 


97 


24,250 00 


§1,055,244 08 


$1,046,979 08 



CONNECTICUT FIRE INSURANCE COMPANY, HARTFORD, CONN. 

Incorporated June, 1850. Commenced business July, 1850. 

Paid-up Capital, $1,000,000. 

J. D. BROWNE, President. W. T. HOWE, Secretary. 

Home Office, 51 Prospect Street. 

Income. 
Net fire premiums, ........ $3,739,990 56 

Gross interest on mortgages, $44,940.90; collaterals, $2,689.37; 
stocks and bonds, $233,959.51; bank deposits, $4,083.91; all 
other, $1,840.88; gross rents, including $10,000 for company's 

own occupancy, $10,828, 298,342 57 

Agents' balances previously charged off, ..... 42 00 

Gross profit on sale of ledger assets, . . . 777 50 

Total income, ...... 

Ledger assets, Dec. 31, 1911,. 

Total, 

Disbursements. 

Net amount paid policy holders for fire losses, . 
Expenses of adjustment and settlement of losses, 
Commissions or brokerage, ..... 

Agency expenses, ....... 

Salaries and expenses of special and general agents, . 

Salaries, fees, etc., of officers and employees, 

Rents, including $10,000 for company's own occupancy, 

Advertising, printing and stationery, 

Postage, telegrams, telephone and express, 

Legal expenses, ....... 

Furniture and fixtures, ...... 

Maps, including corrections, ..... 

Underwriters' boards and tariff associations, 

Fire department, patrol and salvage corps fees and taxes, 

Inspections and surveys, 

Repairs and expenses on real estate, 

Taxes on real estate, 

State taxes on premiums, 

Insurance department licenses and fees, 





$4,039,152 63 


• 


7.626,357 60 


$11,666,510 23 


. $2,063,754 64 




34.16^ " 




805,319 08 




15,073 75 




148,213 84 




208,058 34 




29.562 04 




51,268 40 




21.676 81 




79 73 




3.231 01 




11,409 47 




24.637 20 




26.052 63 




26,858 85 




i 58 




2,028 36 




62.321 36 




22,044 13 



CONNECTICUT FIRE INSURANCE CO. 



197 



Other licenses, fees and taxes, .... 

Dividends to stockholders, ..... 
Agents' balances charged off, ..... 
Gross loss on sale of bonds, ..... 

Total disbursements, ..... 

Balance, ....... 

Ledger Assets. 

Book value of real estate, ..... 

Mortgage loans on real estate, .... 

Loans secured by collateral (Schedule A), 
Book value of stocks and bonds (Schedule B), . 
Cash in office, ....... 

Deposits in trust companies and banks not on interest, 
Deposits in trust companies and banks on interest, . 
Agents' balances, ....... 

Bills receivable, ....... 

Total ledger assets, ..... 



Non-Ledger Assets. 

Interest accrued on: — 
Mortgages, $11,039.80; bonds, $30,369.78; collateral loans, 
$464.30, 

Gross assets, ......... 



$39,766 50 

160,000 00 

1,619 01 

1,485 00 

$3,765,915 58 

$7,899,594 65 



$189,200 00 

1,014,350 00 

54,000 00 

5,741,946 93 

477 90 

20,055 39 

472,851 82 

364,976 81 

41,735 80 

$7,899,594 65 



41,873 88 
$7,941,468 53 



Assets not admitted. 

Agents' balances over three months due, . . $8,661 23 

Bills receivable, past due, taken for premiums, . 24,011 14 

Book value of stocks and bonds over market value, 200,061 93 

Special deposits less $100,215.13 liability thereon, 23,584 87 



Admitted assets/ 



256,319 17 
',685,149 36 



Liabilities. 

Unpaid losses, including $41,987.76 resisted, $406,040.07; less re- 
insurance, $82,723.39, . . < $323,316 68 

Unearned premiums on outstanding risks, .... 4,116,770 88 

Salaries, expenses and accounts, due or accrued, . . . 675 05 

Federal, state and other taxes, due or accrued, . . . 35,000 00 



Total, 

Cash capital, .... 

Surplus over all liabilities, 
Surplus to policy holders, 

Total liabilities, including surplus, 



$1,000,000 00 
2,209,386 75 



$4,475,762 61 



3,209,386 75 
57,685,149 36 



* These assets include deposits in this country amounting to $68,800, which the company has made 
for the protection of certain policy holders. Liabilities have accrued against these deposits, which are 
included in the total liabilities of the company. The excess of these deposits over corresponding liabilities 
is S26.834.06, which is included in the surplus and is subject to a lien under the conditions of the special 
deposit, which, in certain contingencies, would, it should be noted, remove said excess from the funds 
available to pay the claims of general policy holders. 



198 



CONNECTICUT FIRE INSURANCE CO. 



Risks and Premiums. 

Risks. .ima. 

Fire risks in force Dec. 31, 1911, . . . §801,258,351 00 §8,822,052 79 

Fire risks written during the year, . . . 452,471,336 00 4,990,267 09 

Excess premiums on account of reinsurance, . - 3,745 35 



Total, . . 
Expired and terminated, 

In force at end of year, . 
Deduct amount reinsured, 

Net amount in force, 



$1,253,729,687 00813,816,065 23 
. 415,381,177 00 4,784,047 92 

. $838,348,510 00 $9,032,017 31 
84,606,641 00 978,810 78 

. $753,741,869 00 $8,053,206 53 



Miscellaneous. 
Net premiums received from reorganization of company, 
Net losses paid from reorganization of company, 
Cash dividends declared from reorganization of company, 
Fire losses incurred during the year, 
Dividends declared during the year (16 per cent.), 
Par value of company's stock owned by directors, 



$69,446,977 54 

39,545,841 95 

3.975,000 00 

2,088,051 77 

160,000 00 

52,700 00 



Schedule A. Securities held as Collateral. 

Company's 
Market Value. 
. $6,600 00 

63,000 00 \ 
. 26,000 00 J 
. 55,000 00 



40 shares Pullman Co., 
150 " ^Etna Life Ins. Co., Hartford, 
200 " N. Y., N. H. & Hartford R.R. 

50 " Travelers' Ins. Co., Hartford, 



8150,600 00 



Loaned 

Thereon. 

S4,000 00 

20,000 00 
30,000 00 

$54,000 00 



Schedule B. Stocks and Bonds owned by the 



Railroad Stocks. 
737 shares N. Y., N. H. & Hartford, . 
300 " Pittsburg, Ft. Wayne & Chicago, 

Bank Stocks. 
100 shares iEtna National, Hartford, . 

93 " Charter Oak National, Hartford, 
185 " First National, Hartford, . 
300 " Hartford National, . 
100 " Importers' and Traders' Nat., N 
412 " National Exchange, Hartford, 
150 " Phoenix National, Hartford, 

Miscellaneous Stocks. 
200 shares Empire and Bay States Tel. Co., 
500 " Northwestern Telegraph Co., 

Government Bonds. 
Canada Dominion 3 ^s, 1913, 

State, County and Municipal Bonds. 
Arizona 5s, 1942, op. 1912, 
Arizona 5s, 1946, op. 1916, 
Astoria, Ore., 5s, 1925, 
Augusta, Ga., 4£s, 1942, . 
Baltimore, Md., 3£s, 1980, 
Boston, Mass., 35s, 1945, . 
Bridgeport, Conn., 4s, 1939, 
Buffalo, N. Y., 4s, 1924-29, 
Buffalo, N. Y., 4s, 1930, . 
Chicago, 111., 4s, 1926-29, . 
Cincinnati, Ohio, 3§s, 1965, op. 1945, 
Cleveland, Ohio, 4s, 1922, 
Columbus, Ohio, 4s, 1922, op. 1912, 



Book Value. 

8113,871 44 

2^,700 00 

12,500 00 

12 026 00 

26,655 72 

45,645 75 

16.S00 00 

28,106 00 

22,246 50 

14,800 00 
23,000 00 

112,626 68 

52,525 00 
27,000 00 

5,275 00 
50,250 00 
91,125 00 
50,750 00 
41,150 00 
24,725 30 

4,935 35 

100,750 00 

50,625 00 

52,750 00 

35,424 60 



Company. 

Rate. Market Value. 

128 $94,336 00 

165 49,500 00 



323 
165 
176 
192 
572 
164 
158 

70 
118 

100 

100 

102 

104 

100 

84 

91 

98 

99 

98 

99 

94 

102 

100 



32,300 00 
15.345 00 
32,560 00 
57,600 00 
57,200 00 
33,784 00 
23,700 00 

14,000 00 
29,500 00 

110,000 00 

50,000 00 
25,500 00 
5,200 00 
50,000 00 
84,000 00 
45.500 
39,200 

4.900 
99,000 

51.000 



00 
00 
00 
00 
00 
00 
00 



34,000 00 



CONNECTICUT FIRE INSURANCE CO. 



199 



Colorado Springs, Col., 4s, 1924, op. 1914, 

Dallas, Texas, 5s, 1920, 

Dallas, Texas, 4s, 1946, . 

Duluth, Minn., 4£s, 1914, . 

Duluth, Minn., 4s, 1932, . 

East Hartford, Conn., fire dist. 4s, 1931, op. 1921 

Fairfield County, Conn., 4s, 1939, op. 1929, 

Georgia 4is, 1915, 

Hartford, Conn., 3|s, 1954-55, . 

Hartford, Conn., school 3|s, 1931, 

Helena, Mont., 5s, 1916, . 

Hennepin County, Minn., 4 is, 1925, 

Idaho 4is, 1931, op. 1921, 

Kansas City, Mo., 4s, 1924, 

Maryland 3 is, 1925, op. 1920, . 

Massachusetts 3is, 1935, . 

Massachusetts 3|s, 1945, . 

Nashville, Tenn., 4s, 1927, 

New Britain, Conn., 3 is, 1932, . 

New Britain, Conn., 4s, 1936, 

New Haven, Conn., 4s, 1926-33, 

New London, Conn., 3 is, 1926, . 

New Mexico 4s, 1933, op. 1923, 

Newport, R. I.. 3is, 1954, 

New York, N. Y., 3*8, 1953, 

New York, N. Y., 4s, 1956, 

Norwich, Conn., 4s, 1931, 

Oakland, Cal., 4 is, 1944-46, 

Ontario, Canada, 3is, 1936, 

Pawtucket, R. I., 4s, 1934, 

Philadelphia, Penn., 4s, 1938, . 

Portland, Ore., 5s, 1923, . 

Providence, R. I., 4s, 1923, 

Richmond, Va., 4s, 1924, . 

Rockville, Conn., 4s, 1935, 

St. Louis, Mo., 4s, 1928, . 

Salem, Ore., 6s, 1914, 

Salt Lake City, Utah, 4 is, 1924, 

Salt Lake City, Utah, school district 4 is, 1932, 

San Diego, Cal., 4§s, 1938, 

San Francisco City and Co., Cal., 5s, 1928-29, 

San Francisco City and Co., Cal., 5s, 1935-36, 

Seattle, Wash., 5s, 1913, . 

Seattle, Wash., school dist. No. 1 4is, 1928, 

Spo. Co., Wash., S. D. No. 81 4Js, 1927, op. 1917 

Springfield, Mass., 4s, 1917, 

Stockton, Cal., high sch. dist. 5s, 1917, op. 1914, 

Syracuse, N. Y., 3is, 1920, 

Tacoma, Wash., 4|s, 1931, 

Torrington, Conn., 4s, 1929, 

Trenton, N. J., 4s, 1934, . 

Waterbury, Conn., 4s, 1927, 

Railroad Bonds 
Atchison, Topeka & Santa Fe gen. 4s, 1995, 
Baltimore & Ohio prior lien 3 is, 1925, 
Boston & Albany 4s, 1933, 
Boston & Maine 4 is, 1929, 
Chicago, Burlington & Quincy 3 is, 1949, 
Chicago & Erie 5s, 1982, . 
Chicago, Milwaukee & St. Paul 4s, 1989, 
Chicago & Northwestern 5s, 1921, 
Chicago & Northwestern 5s, 1929, 
Chicago & Northwestern 3 is, 1987, . 
Chicago Rys. series A 5s, 1927, . 
Chicago Rys. series B 5s, 1927, . 
Chicago, St. Louis & New Orleans 3 is, 1951, 
Chic, St. Paul, Minn. & Omaha 3is, 1930, 
Cincinnati, Hamilton & Dayton 5s, 1942, . 
Cincinnati, Ind. & Western 4s, 1953, . 
Cleveland, Cin., Chicago & St. L. 4s, 1991, 
Cleveland Electric 5s, 1913, 
Cleveland & Mahoning Valley, 5s, 1938, 



Book Value. 
S25.687 50 
12,360 00 
25,000 00 
10,700 00 
36,225 00 
41,800 00 
50,500 00 
26,625 00 

98.500 00 
26,125 00 
21,400 00 
56,345 00 
51,625 00 
53,250 00 
95,150 00 
74,687 50 
24,687 50 
50,625 00 
25,625 00 
25,250 00 

61.501 50 
47,500 00 
10,550 00 
44,880 00 
51,031 25 
50,359 38 
25,000 00 
50,850 00 
14,100 00 
30,525 00 

104,750 
57,625 
51,750 
50,000 
27,187 
51,625 
12,017 
10,700 
41,064 
32,831 
26,970 00 
27,398 75 
25,250 00 
26,250 00 
51,250 00 
49,250 00 
33,262 50 
48,500 00 
77,156 25 
25,250 00 
51,000 00 
51,375 00 

50,312 50 

47,125 00 

100,625 00 

105.115 00 

46,100 00 

60,750 00 

54,375 00 

54,750 00 

108,486 25 

48,000 00 

9,167 50 

21,407 50 

24,500 00 

46,750 00 

51,125 00 

49,375 00 

9,000 00 

51,375 00 

11,000 00 



00 
00 
00 
00 
50 
00 
50 
00 
00 
25 



Rate. 

97 

103 

93 

100 

97 

99 

98 

101 

90 

94 

100 

104 

102 

100 

96 

94 

92 

96 

92 

98 

99 

94 

97 

90 

85 

94 

99 

102 

92 

97 

101 

105 

99 

98 

99 

100 

101 

100 

100 

102 

107 

109 

100 

101 

100 

100 

101 

95 

102 

99 

97 

99 

97 

92 

95 

99 

86 

110 

99 

103 

106 

84 

94 

85 

84 

89 

102 

87 

89 

100 

109 



00 
00 
00 
00 
00 



Market Value. 

$24,250 00 
12,360 00 
23,250 00 
10,000 00 
33,950 00 
39,600 00 
49,000 00 
25,250 00 
90,000 00 
23,500 00 
20,000 00 
52,000 00 
51,000 00 
50,000 00 
96,000 00 
70,500 00 
23,000 00 
48,000 
23,000 
24,500 
59,400 
47,000 

9,700 00 
39,600 00 
42,500 00 
47,000 00 
24,750 00 
51,000 00 
13,800 00 
29,100 00 

101,000 00 
52,500 00 
49,500 00 
49,000 00 
24,750 00 
50,000 00 
11,110 00 
10,000 00 
40,000 00 
30,600 00 
26,750 00 
27,250 00 
25,000 
25,250 
50,000 
50,000 
30,300 00 
47,500 00 
76,500 00 
24,750 00 
48,500 00 
49,500 00 

48,500 00 
46,000 00 
95,000 00 
99,000 00 
43,000 00 
55,000 00 
49,500 00 
51,500 00 
106,000 00 
42,000 00 

8,460 00 
17,850 00 
21,000 00 
44,500 00 
51,000 00 
43,500 00 

8,900 00 
50,000 00 
10,900 00 



00 
00 
00 
00 



200 



THE CONTINENTAL INSURANCE CO. 



Detroit 5s, 1924, .... 

Illinois Central (Springfield Div.) 3§s, 1951, 

Illinois Central 4s, 1955, . 

Indiana, Illinois & Iowa 4s, 1950, 

Iowa Central 5s, 1938, 

Lake Shore & Michigan Southern 4s, 1931, 

Lehigh Valley 4^s, 1940, . 

Lehigh Valley Terminal 5s, 1941, 

Long Island guar. ref. 4s, 1949, . 

Michigan Central 32-s, 1952, 

Minn., St. Paul & S. Ste. Marie 4s, 1938, 

Minneapolis & St. Louis 4s, 1949, 

New England 4s, 1945, 

New London Northern 4s, 1940, 

N. Y. C. & Hudson River refunding 3|s, 1997, 
C. & Hudson (L. Shore col.) 3}s, 1998, 
C. & Hudson River (Mich. Cent.) 3£s, 1998 
, Lackawanna & Western 4s, 1923, 
, N. H. & H. (Har. R. & P. C.) 4s, 1954, 
H. & Hartford deb. 3£s, 1947, 
H. & Hartford deb. 4s, 1947, 
H. & Hartford conv. 35s, 1956, . 
H. & Hartford conv. 6s, 1948, 

Northern Pacific & Great Northern 4s, 1921, 

Pennsylvania gen. freight equipment 4s, 1920, 

Port Reading 5s, 1941, 

Rutland 4|s, 1941, 

Rutland Canadian 4s, 1949, 

St. Louis & San Francisco 5s, 1947, 

St. Louis Southern 4s, 1931, 

Southern Pacific 4s, 1955, .... 

Southern Pacific of California 5s, 1937, 

Toledo & Ohio Central gen. 5s, 1935, . 

Toledo & Ohio Central (West, Div.) 5s, 1935, 

Union Pacific 4s, 1947, .... 

Vandalia 4s, 1955, ..... 

Vermont Valley 4|s, 1940, 

Washington Terminal Co. 3§s, 1945, . 
Miscellaneous Bonds. 

Mortgage Bond Co. of New York 4s, 1966, . 

Northwestern Telegraph Co. 4§s, 1934, 

People's Gas & Coke Co., Chicago, 5s, 1947, 

Western Union Telegraph Co. 5s, 1938, 

Western Union Telegraph Co. 4^s, 1950, 



N. Y. 

N. Y. 
N. Y. 
N. Y. 
N. Y., N. 
N. Y., N. 
N. Y., N. 
N. Y., N. 



00 
50 
00 
50 
50 



Book Value. 

$54,862 50 
25,000 00 
24,906 25 
50,300 00 
28,156 25 
45,484 73 
57,676 13 
28,500 00 
51,000 00 
24,281 25 
48,750 
71,812 
24,875 
24,812 
52,037 
47,220 00 
26,107 50 

104,525 00 
54,250 00 
52,375 00 
31,537 50 
29,122 50 
25,203 38 
45,192 71 
48,125 00 
15,875 00 
26,187 50 
25,000 00 
24,837 50 
26,250 00 
23,690 63 
53,500 00 
10,000 
15,375 
50,125 
50,000 
52,500 



00 
00 
00 
00 
00 



22,750 00 

21,540 00 
25.562 50 
26,125 00 
27,093 75 
24,892 38 

So, 741,946 93 



Rate. 

88 

94 

98 

92 

104 

112 

94 

86 

96 

63 

98 

98 

87 

79 

79 

97 

97 

80 

91 

87 

125 

96 

98 

110 

97 

86 

100 

94 

93 

111 

103 

107 

99 

94 

104 

86 

87 

95 

101 

101 

95 



00 

00 

00 



00 
00 
00 
00 
00 



Market Value. 
$44,000 00 

21,25 

24,000 00 

47,000 00 

24,: 

46,000 

I '00 
47,(" 

21,500 00 
48,000 00 
47,250 00 
24,500 00 
24,500 
47,850 
39,500 
23,700 
97,000 
48,500 00 
40,000 00 
27,300 00 
26,100 00 
31,250 00 
48,000 00 
49,000 00 
16,500 00 
24,250 00 
21,500 00 
25,000 00 
23,500 00 
23,250 00 
55,500 00 
10,300 00 
16,050 00 
49,500 00 
47,000 00 
52,000 00 
21,500 00 



20,880 00 
23,750 00 
25,250 
25,250 
23,750 



00 
00 
00 



85,541,885 00 



THE CONTINENTAL INSURANCE COMPANY, NEW YORK, N 

Incorporated January, 1853. Commenced business January, 1853. 
Paid-up Capital, $2,000,000. 



Y. 



HENRY EVANS, President. 



C. R. TUTTLE, 
J. A. SWIXXERTOX, 
F. R. MILLARD, 
ERXEST STURM, 
J. E. LOPEZ. 






Secretaries. 



Home Office, 80 Maiden Lane. 

Ixcome. 

Net fire premiums, $7,989,372.52; marine, $129,536.07, . 

Gross interest on mortgages, $135; collaterals, $2,402.7S; stocks 
and bonds, $924,384.40; bank deposits, S104,819.47; all other, 
$4,594.62; gross rents, including $18,125 for company's own 
occupancy, $72,104.64, 

Agents' balances previously charged off, ..... 

Gross profit on sale or maturity of stocks and bonds, 



$8,118,908 59 



1,108,440 91 

1,896 S2 

126.S44 00 



THE CONTINENTAL INSURANCE CO. 



" 201 



Gross increase in book value of stocks and bonds, 

Profit on syndicate participation, Third Avenue Railroad Co., 

Total income, ....... 

Ledger assets, Dec. 31, 1911, ...... 



Total, 



Disbursements. 



Net amount paid policy holders for fire losses, $3,85 1,017.51 
marine, $59,631.77, ...... 

Expenses of adjustment and settlement of losses, 
Commissions or brokerage, ..... 

Agency expenses, ....... 

Salaries and expenses of special and general agents, 

Salaries, fees, etc., of officers and employees, 

Rents, including $18,125 for company's own occupancy, 

Advertising, printing and stationery, 

Postage, telegrams, telephone and express, 

Legal expenses, ....... 

Furniture and fixtures, ...... 

Maps, including corrections, ..... 

Underwriters' boards and tariff associations, 

Fire department, patrol and salvage corps fees and taxes, 

Inspections and surveys, ..... 

Repairs and expenses on real estate, 

Taxes on real estate, ...... 

State taxes on premiums, ..... 

Insurance department licenses and fees, . 

Other licenses, fees and taxes, .... 

Dividends to stockholders, ..... 

Agents' balances charged oil, ..... 

Gross loss on sale of bonds, ..... 

Gross decrease in book value of ledger assets, . 
Bills receivable charged off, ..... 

Investment expenses, ...... 

Reserve on account of reinsurance treaty, 

Interest on reinsurance reserve, .... 

Scrip redeemed, ....... 

Interest to scrip holders, ..... 

All other disbursements, ..... 

Total disbursements, ..... 

Balance, ....... 

Ledger Assets. 
Book value of real estate, ..... 

Mortgage loans on real estate, .... 

Loans secured by collateral (Schedule A), 
Book value of stocks and bonds (Schedule B), . 
Cash in office, ....... 

Deposits in trust companies and banks not on interest, 
Deposits in trust companies and banks on interest, . 
Agents' balances, ....... 

Bills receivable, ....... 

Total ledger assets, ..... 



$630,318 00 
5,310 53 

$9,991,718 85 
25,503,123 44 

$35,494,842 29 



$3,910,049 28 

119,107 25 

1,657,681 05 

1,247 71 

260,930 10 

436,068 24 

70,034 93 

75,509 07 

67,629 92 

952 82 

31,549 54 

20,150 91 

85,539 20 

31,026 47 

7,300 44 

31,691 60 

24,871 74 

155,877 66 

31,732 69 

58,070 54 

1,000,000 00 

1,890 02 

174 00 

412,823 00 

6,561 03 

4,141 08 

25,379 62 

1,021 56 

43 00 

60 

24,537 44 

. $8,554,192 51 

$26,940,649 78 

$1,175,000 00 

2,700 00 

500,000 00 

22,282,237 00 

3,073 16 

93 62 

1,703,963 14 

1,044,880 83 

228,702 03 

$26,940,649 78 



202 



THE CONTINENTAL INSURANCE CO. 



Non-Ledger Assets. 

Interest due and accrued on: — 
Bonds, §74,131.44; other assets, $83.71, . 
Market value of stocks and bonds over book value, 

Gross assets,* ..... 

Assets not admitted. 
Agents' balances over three months due, . 
Bills receivable, past due, taken for premiums, 
Special deposits less $207,176.74 liability thereon, 



$74,215 15 
. 1,224,685 50 

$28,239,550 43 



$3,467 47 
76,625 93 
48,853 26 



Admitted assets,! 



128,946 66 
828,110,603 77 



Liabilities. 



Unpaid losses, including $43,332.50 resisted, $560,664.20; less re- 
insurance, $74,774.69, 

Unearned premiums on outstanding risks, . 

Unpaid scrip, ....... 

Interest due or accrued od scrip, .... 

Dividends declared and unpaid to stockholders, 
Salaries, expenses and accounts, due or accrued, 
Federal, state and other taxes, due or accrued, 
Commissions and other charges due agents and brokers, 
Due for reinsurance, ...... 

Rent paid in advance, ...... 

Reserve for contingencies, ..... 



Total, 

Cash capital, .... 

Surplus over all liabilities, 
Surplus to policy holders, 

Total liabilities, including surplus, 

Risks and 



Fire risks in force Dec. 31, 1911, 
Fire risks written during the year. 

Total, .... 
Expired and terminated, 

In force at end of year, . 
Deduct amount reinsured, 

Net amount in force, 



82,000,000 00 
15,517,406 57 



~>,889 51 

9,034,689 95 

26,657 00 

6,063 30 

500,000 00 

27,500 00 

162,000 00 

75,386 16 

24.894 68 

116 60 

250,000 00 

810,593,197 20 



17,517,406 57 
U10,603 77 



Premiums. 

Risks. Premiums. 

81,569,723,942 00 816,238.219 30 

1,030,611,173 00 10,356,023 54 



$2,600,335,115 00 $26,594,242 Si 
. 819,997,432 00 7,967,664 32 



$1,780,337,683. 00 $18,626,578 52 
. 155,426,104 00 1,565,152 44 



$1,624,911,579 00 817,061,426 08 



* The company holds also instalment premium notes to the amount of §2,306,977.55, which do not 
enter into or form any part of the assets of the company, as no portion of them is earned. Vi*h •.. 
value is attached to them would necessarily be counterbalanced by the addition of an amount exactly 
equal to the reinsurance liability, the entire sum consisting of "unearned premiums." 

The assets include $600,000 special reserve held under New York law. 

t These assets include deposits in this country amounting to $70,741.50, which the company has made 
for the protection of certain policy holders. Liabilities have accrued against these deposits, which are 
included in the total liabilities of the company. The excess of these deposits over corresponding liabil- 
ities is $191.46, which is included in the surplus and is subject to a lien under the conditions of the special 
deposit, which, in certain contingencies, would, it should be noted, remove said excess from the funds 
available to pay the claims of general policy holders. 



THE CONTINENTAL INSURANCE CO. 



203 



Marine risks in force Dec. 31, 1911, 
Marine risks written during the year, 

Total, . 
Expired and terminated, 

In force at end of year, . 
Deduct amount reinsured, 



Risks. 

$1,266,857 00 
8,185,138 00 

$9,451,995 00 
1,521,877 00 

$7,930,118 00 
3,117,414 00 



Premiums. 

$36,202 13 
285,937 16 

$322,139 29 
94,897 36 

$227,241 93 
90,421 85 



Net amount in force, 



^,812,704 00 $136,820 08 



Miscellaneous. 



Net premiums received from organization of company, 

Net losses paid from organization of company, 

Cash dividends declared from organization of company, 

Stock dividends declared from organization of company, 

Fire losses incurred during the year, 

Marine and inland losses incurred during the year, . 

Dividends declared during the year (75 per cent.), 

Par value of company's stock owned by directors, 



$158,700,513 77 
. 83,076,246 04 
. 13.314,356 56 
. 1,000,000 00 
. 3,877,306 58 
58,081 13 
. 1,500,000 00 
. 418,200 00 



Schedule A. Securities held as Collateral. 

Company's 
Market Value. 
$100,000 00 ' 
107,500 00 
99,000 00 
110,000 00 
123,750 00 
80,000 00 . 

$620,250 00 



Atch., Topeka & Santa Fe convertible 4s, 1960, . 
New York, New Haven & Hartford conv. 3^s, 1956, 
1,200 shares Lehigh Valley R.R. Co., . 
1,000 " Norfolk & Western Co., . 
1,500 " Reading Co., .... 

500 " Union Pacific, .... 



Loaned 
Thereon. 



$500,000 00 



Schedule B. Stocks and Bonds owned by the Company. 



200 
1,000 
3,500 
3,500 

500 
14,000 

700 
1,000 
1,000 

627 
2,500 
2,500 
1,500 
1,000 

100 
4,800 
5,000 
5,000 
3,146 
15,000 
5,000 
1,000 

500 
2,000 
1,000 
2,000 
5,021 

500 
5,100 
2,500 



Railroad Stocks. 
shares Atlanta & Charlotte Air Line, 

" Atlantic Coast Line, Connecticut, 

" Atlantic Coast Line, 
rights Atlantic Coast Line, 
shares Baltimore & Ohio, preferred, . 

" Brooklyn City, 

" Buff., Rochester & Pitts., pref., 

" Buff., Rochester & Pitts., common, 

" Central of New Jersey, . 

" Chicago City, 

Chic, Mil. & St. Paul, preferred, 

" Chic. & Northwestern, preferred, 

" Chic. & Northwestern, common, 

" Chic, St. P., Minn. & Om., pref., 

" Delaware & Hudson Co., 

" Delaware, Lacka. & Western, 
Great Northern, preferred, 
rights Great Northern, . 
shares Lake Shore & Mich. Southern 

" Lehigh Valley, common, 

" Louisville & Nashville, . 

Louisville & Nashville 20% pd 

" Mahoning Coal, 

Manhattan, New York, N. Y 

" M., St. P. & S. S. M., leased line, 
Nashville, Chattanooga & St. L., 

" New York & Harlem, 

" N. Y., Chicago & St. L., 1st pref., 

" Norfolk & Western, 

" Pitts., Cin., Chic. & St. L., pref., 



Book Value. 
$34,000 00 
250,000 00 
455,000 00 

10,500 00 

42,500 00 
210,000 00 

84,000 00 
110,000 00 
325,000 00 
109,725 00 
350,000 00 
437,500 00 
195,000 00 
140,000 00 

15,000 00 

1,260,000 00 

650,000 00 

10,000 00 

1,258,400 00 

1,237,500 00 

700,000 00 

28,000 00 
150,000 00 
250,000 00 

80,000 00 
300,000 00 
815,912 00 

50,000 00 
561,000 00 
262,500 00 



Rate. 
167 
264 
134 
3 

87 
162 
133 
115 
365 
170 
140 
188 
138 
152 
166 
570 
130 
2 
461 
172 
141 

61 
850 
131 

84 
175 
355 
103 
113 
113 



Market Value. 
$33,400 00 
264,000 00 
469,000 00 

10,500 00 

43,500 00 
226,800 00 

93,100 00 
115,000 00 
365,000 00 
106,590 00 
350,000 00 
470,000 00 
207,000 00 
152,000 00 

16,600 00 

1,368,000 00 

650,000 00 

10,000 00 

1,450,306 00 

1,290,000 00 

705,000 00 

61,000 00 
212,500 00 
262,000 00 

84,000 00 
350,000 00 
891,227 50 

51,500 00 
576,300 00 
282,500 00 



204 



THE CONTINENTAL INSURANCE CO. 



2,000 shares Pitts., Cin., Chic. & St. L., com., 

500 " Pitts., Ft. Wayne & Chicago, 
4,200 " Pitts., McKeesport & Yough., 

400 " Reading, 2d pref., 
10,000 " Reading Co., 
5,000 " Southern Pacific, . 
1,000 " Union Pacific, preferred, 
2,500 " Union Pacific, common, 
1,300 M United N. J. R.R. & Canal Co., 
3,000 " Western Maryland, preferred, 
Bank Stocks. 
250 shares Amer. Exchange Nat., N. Y., N. Y 
50 " Bank of America, New York, N. Y 
500 " Bank of New York, N. B. A., 
600 " Central Trust Co., New York, N. Y 
125 " Fourth Nat., New York, N. Y., 
425 " Mech. & Met. Nat., N. Y., N. Y 

Miscellaneous Stocks. 
400 shares American Can Co., N. J., pref., 



4,000 
585 

9,925 
500 
300 
100 

2,000 
700 



J. 



Consolidated Gas Co., N. Y 
Dela., Lacka. & W. Coal Co., N. 
Fire Cos. Bldg. Corp., N. Y., 
Lehigh Valley Coal Sales Co., N 
Mahoning Investment Co., 
Northern Securities Co., N. J., 
Sears, Roebuck & Co., N. Y., pref 
United States Express Co., N. Y 
Government Bonds. 
United States 3s, 1961 

State and Municipal Bonds. 
Georgia 4£s, 1915, . 
New Mexico 4s, 1939, op. 1929, 
New York 3s, 1957, . 
New York 4s, 1960-61, 
New York, N. Y., 3£s, 1927, 
New York, N. Y., 3^s, 1940, 
Richmond, Va., 4s, 1920-21, 
Richmond, Va., 4s, 1923-27, 

Railroad Bonds. 
Atch., Top. & Santa Fe conv. 4s, 1960, 
Atlantic Coast Line (L. & N. col.) 4s, 1952, 
Brooklyn Rapid Transit 1st ref. 4s, 2002, . 
Chesapeake & Ohio conv. 4?s, 1930, . 
Chicago & Alton 1st 3§s, 1950, . 
Chic, Burlington & Quincy general 4s, 1958, 
Chicago Great Western 1st 4s, 1959, . 
Chicago, Milwaukee & St. Paul conv. 4£s, 1932, 
Columbia & Greenville 1st 6s, 1916, . 
Del. & Hudson Co. deb. 4s, 1916, 
Elmira, Cortlandt & Northern 1st 6s, 1914, 
Erie series A convertible 4s, 1953, 
Fort Worth & Denver City 1st 6s, 1921, 
Illinois Central ref. 4s, 1955, 
Louisville & Nashville (M. & M.) 1st 4*-s, 1945, 
New Or., Mobile & Ch. 1st ref. 5s, 1960, 
New York & Harlem ref. 3§s, 2000, . 
Norfolk Southern notes, 5s, 1915, 
Nor. Pac.-Gr. Nor. (C, B. & Q. col.) 4s, 1921, 
Southern Pacific conv. 4s, 1929, 
Union Pacific conv. 4s, 1927, 

Miscellaneous Bonds. 
Amer. Sm. Securities Co., N. J., deb. 6s, 1926, 
Central Leather Co., N. J., 1st 5s, 1925, 
Fire Cos. Bldg. Corp., N. Y., 1st 4*s, 1961, 
General Rubber Co., N. J., deb. 4|s, 1915, . 
Mortgage Bond Co., New York, 4s, 1966, . 
N. Y. Gas & El. Lt., H. & P. Co., N. Y., 4s, 1949, 
Otis Elevator Co., N. J., deb. conv. 5s, 1920, 



Book Value. 


Rate. 


Market Value. 


. $200,000 00 


104 


$208,000 00 


80,000 


00 


165 


500 00 


231,000 


00 


130 


273,000 00 


18,000 


00 


92 


18,4' 


825,000 


00 


167 


835,000 00 


525,000 


00 


108 


540,000 00 


90,000 


00 


92 


92,0' 


400,000 


00 


164 


410.000 00 


305,500 


00 


238 


309,400 00 


195,000 


00 


68 


204,000 00 


56,250 


00 


235 


58,750 00 


27,500 


00 


624 


31,200 00 


162,500 


00 


407 


203,500 00 


540,000 


00 


1,049 


629,400 00 


23,750 


00 


202 


25,250 00 


95,625 


00 


263 


111,775 00 


46,000 


00 


117 


46,^ 


540,000 


00 


140 


560,000 00 


102,375 


00 


395 


115,537 50 


992,500 


00 


100 


992,500 00 


r M 56,250 


00 


230 


500 00 


18,000 


00 


75 


22,500 00 


10,000 


00 


100 


10,000 00 


240,000 


00 


125 


250,000 00 


45,500 00 


67 


46,900 00 


650,000 


00 


102 


663,000 00 


10,000 


00 


101 


10,100 00 


9,000 


00 


96 


9,600 00 


190,000 


00 


99 


198,000 00 


203,000 


00 


101 


205,030 00 


112,500 


00 


91 


113,750 00 


370,600 


00 


87 


379,320 00 


; } 49,400 


00 [ 


99 
98 


8,068 50 
42,973 00 


787,000 


00 


103 


810,610 00 


45,000 


00 


92 


46,000 00 


450,000 


00 


92 


460,000 00 


90,000 


00 


92 


92,000 00 


12,000 


00 


64 


>0 00 


71,250 


00 


95 


71.250 00 


75,000 


00 


76 


76,000 00 


37,500 


00 


105 


39,375 00 


50.000 


00 


104 


52,000 00 


95,000 


00 


97 


97,000 00 


50,000 


00 


101 


50,500 00 


180,000 


00 


83 


186,750 00 


100,000 


00 


107 


107,000 00 


38,000 


00 


96 


3^.400 00 


50,000 


00 


103 


51,500 00 


42,500 


00 


86 


43.000 00 


69,700 


00 


88 


72.160 00 


95,000 


00 


100 


100,000 00 


237,500 


00 


96 


240,000 00 


202,500 


00 


93 


209,250 00 


142,500 


00 


97 


145,500 00 


25,000 


00 


104 


26,000 00 


135,000 


00 


95 


142.500 00 


. 1,000,000 


00 


100 


1,000,000 00 


237,500 


00 


97 


242.500 00 


20,000 


00 


S7 


21.750 00 


), 42,500 


00 


85 


42.500 00 


100,000 


00 


100 


100,000 00 


S22.2S2.237 


00 


523,506.922 50 



COUNTY FIRE INSURANCE CO. 



205 



COUNTY FIRE INSURANCE COMPANY OF PHILADELPHIA, 

PHILADELPHIA, PA. 

Incorporated May 31, 1832. Commenced business April 19, 1833. 
Paid-up Capital, $400,000. 
CHARLES R. PECK, President. E. A. LAW, Secretary. 

Home Office, 110 South J+ih Street. 



Income 

Net fire premiums, .... 

Deposit premiums on perpetual risks, 

Gross interest on mortgages, $8,537.30; collaterals, $157.25; stocks 
and bonds, $35,321.60; bank deposits, $804.49; all other, $20.32 
gross rents, including $2,500 for companj^'s own occupancy 
$3,951, 

From all other sources, . 

Total income, 
Ledger assets, Dec. 31, 1911, 



Total, 



Disbursements. 



Net amount paid policy holders for fire losses, . 
Expenses of adjustment and settlement of losses, 
Commissions or brokerage, .... 

Salaries and expenses of special and general agents, 
Salaries, fees, etc., of officers and employees, 
Rents, for company's own occupancy, 
Advertising, printing and stationery, 
Postage, telegrams, telephone and express, 
Legal expenses, ...... 

Furniture and fixtures, ..... 

Maps, including corrections, .... 

Underwriters' boards and tariff associations, 

Fire department, patrol and salvage corps fees and taxes, 

Inspections and surveys, .... 

Repairs and expenses on real estate, 

Taxes on real estate, ..... 

State taxes on premiums, .... 

Insurance department licenses and fees, . 

Other licenses, fees and taxes, 

Deposit premiums returned, .... 

Dividends to stockholders, .... 

Agents' balances charged off, .... 

Gross loss on sale or maturity of ledger assets, . 
All other disbursements, .... 

Total disbursements, .... 

Balance, ...... 

Ledger Assets. 
Book value of real estate, .... 
Mortgage loans on real estate, 
Loans secured by collateral (Schedule A), 



$381,029 91 
3,427 52 



48,791 96 
588 82 

$433,838 21 
1,145,012 28 



$1,578,850 49 


$195,571 48 


3,993 25 


90,892 44 


19,898 83 


21,876 88 


2,500 00 


4,249 03 


3,814 99 


50 00 


368 95 


5,363 03 


6,282 51 


1,632 93 


1,120 48 


766 47 


787 33 


10,742 93 


2,529 00 


1,390 78 


6,486 60 


32,000 00 


52 17 


395 46 


3,366 56 


$416,132 10 


$1,162,718 39 


$55,057 18 


178,100 00 


3,700 00 



206 



COUNTY FIRE INSURANCE CO. 



Book value of stocks and bonds (Schedule B), . 
Cash in office, ...... 

Deposits in trust companies and banks on interest, 
Agents' balances, ...... 

Due from other companies, .... 

Total ledger assets, ...... 

Non-Ledger Assets. 
Interest due and accrued on: — 
Mortgages, §1,871.59; bonds, $6,969; collateral loans, S39.22, 
Rents due on company's property, .... 
Market value of real estate over book value, 
Market value of stocks and bonds over book value, . 
Due from other companies, ..... 
Deposit with Philadelphia Underwriters' Association, 

Gross assets, ......... 

Assets not admitted. 

Agents' balances over three months due, . . $1,855 59 

Due from unauthorized company, . . . . 5 00 

Perpetual deposits nor returnable, . . . . 190 38 
Perpetual deposits in unauthorized companies, . 306 00 

Deposits with Philadelphia Underwriters' Association, 100 00 



$769,768 40 

1,562 03 

84,927 21 

67,699 82 

1,903 75 

81,162,718 39 



8,879 81 

87 50 

16,107 82 

24,784 60 

1,112 23 

100 00 

81,213,790 35 



2,456 97 



Admitted assets, ........ 

Liabilities. 
Unpaid losses, including $955.89 resisted, 829,301.33; less rein- 
surance, $2,282.70, 

Unearned premiums on outstanding risks, 
Reclaimable on perpetual fire policies, 
Salaries, expenses and accounts, due or accrued, 
Federal, state and other taxes, due or accrued, 
Commissions and other charges due agents and brokers, 



Total, 

Cash capital, ...... 

Surplus over all liabilities, .... 

Surplus to policy holders, . . . . - 

Total liabilities, including surplus, 

Risks and Premiums. 



$400,000 00 
242,796 25 



Fire risks in force, Dec. 31, 1911, 
Fire risks written during the year, 

Total, .... 
Expired and terminated, 

In force at end of year, . 
Deduct amount reinsured, 



Xet amount in force, 
Perpetual risks in force (not included'above), 



Rii 

>.475,507 00 
61,170,592 00 

$139,646,099 00 
56,756,524 00 

:.SS9,575 00 
16,149,9S4 00 

$66,739,591 00 

) 00 



$1,211,333 38 



7,018 63 

338,662 54 

186,308 35 

1,307 .54 

6,97- 

8,267 22 

$56S,537 13 



642,796 25 
$1,211,333 3S 

Premiums. 

5 14 
619,963 32 

$1,401. SIS 46 
583,938 14 

iO 32 

161.276 73 

$656,603 59 
$204.S49 11 



COUNTY FIRE INSURANCE CO. 



207 



Miscellaneous. 

Net premiums received from organization of company, 

Net losses paid from organi